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Microsoft Alone Is Forecast to Avoid Negative Free Cash Flow Over the Next 12 Months
U.S. hyperscaler capital spending is projected to reach $1.2 trillion in 2027.

Microsoft is the only major hyperscaler forecast to avoid negative free cash flow over the next 12 months.
Free cash flow measures cash left after operating costs and capital spending. A negative result means capital spending exceeds the cash generated from operations.
The outlook comes as U.S. hyperscaler capital spending is projected to reach $1.2 trillion in 2027.