Microsoft Caps $190 Billion AI Spending Year with July 29 Earnings

Microsoft reports fiscal year 2026 Q4 results on July 29 after U.S. markets close. The company projected $190 billion in capital expenditure—roughly 27% of the $700 billion Big Tech collectively committed to AI, per Bloomberg. That matches Alphabet's projected capex. Investors will watch whether Azure revenue growth justifies the hardware depreciation now hitting Microsoft's income statement.