BREAKING
AI Buildout Shifts Cash to Chipmakers
0
B
2026 capex ceiling
0
B
2026 capex floor
0
%
AI-related share
Who Is Spending in 2026
Amazon
200
Alphabet
185
Meta
135
Microsoft
120
Oracle
50
0
B
prior FCF peak
0
B
Amazon FCF by 2026
0
%
Nasdaq 100 capex/cash
Chipmakers Cash In, Clouds Wait
Chipmakers
gaining
●
Nvidia, Micron, TSMC, Applied Materials
●
SOX index up about 65% this year
●
Booking revenue immediately
Hyperscalers
waiting
●
Amazon, Alphabet, Meta, Microsoft, Oracle
●
Mag 7 lags the S&P 500
●
Returns may take years
Durable Shift or Reversal?
AI NEWS BLITZ
Bank of America warns of a generational cash shift from Big Tech to chipmakers.