LIVE DATA — Q1 2026 EARNINGS
Four companies are spending 1% of global GDP on AI infrastructure. Click each to see where the money goes.
$0B
COMBINED 2026 AI INFRASTRUCTURE SPEND
1%
of global GDP
+77%
vs 2025
4
companies
Revenue
$181.5B (+17% YoY)
AWS Run Rate
$150B annualized
New Debt
$53.4B raised in Q1
Total Debt
$119B (doubled from $65.6B)
Free Cash Flow
$0 — all reinvested
Total Assets
$916B (+$99B in 90 days)
M
Microsoft
Azure 40% re-acceleration · Copilot 20M users
$190B
Azure Growth
40% (re-accelerated from 39%)
Copilot Users
20M paid
Strategy
Fairwater AI superfactories
Pickup
Stargate Norway + UK (OpenAI dropped)
GPU Target
Hundreds of thousands of Vera Rubin chips
G
Google / Alphabet
$185B
Search Revenue
$60.4B (+19% YoY)
Enterprise AI
TPU 8I
80% better inference economics
Backlog
$462B (nearly doubled in Q1)
New Debt
$31.1B issued Q1
YouTube Subs
350M total, record quarter
M
$135B