Six Firms’ AI Capital Spending Projected to Exceed $7 Trillion Through 2030

Potential debt exposure tied to AI infrastructure is a concern as six major companies’ capital spending on data centers and other AI projects is projected to exceed $7 trillion from 2025 through 2030.

The companies are Amazon, Microsoft, Alphabet, Oracle, Meta and SpaceX. Combined capital expenditures on data centers and other AI projects are projected to exceed $7 trillion from 2025 through 2030. That figure represents spending, not debt.

The six companies are projected to generate negative free operating cash flow in 2026 and 2027. The central risk is that expected returns from AI investments may not materialize.