# Santoli Says AI Trade Is Nearing a Need for Relief Before Big Tech Earnings By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/42003 Published: 2026-10-27T20:33:22.000Z Updated: 2026-10-27T20:33:22.000Z Section: Investing > Alphabet’s results are due before its Wednesday call, Microsoft’s release is scheduled after market close and Amazon will hold its results call Thursday. Anthropic’s filing lists $8.945 billion in first-half compute a… Michael Santoli said the AI trade is nearing a point where it needs relief, as this week’s Alphabet and Microsoft earnings are expected to put cloud growth and AI spending in focus for investors. “It’s not quite a now-or-never moment for the AI trade to find some relief, but it’s not far from one,” Santoli wrote Oct. 27. He cautioned that a rally might not last, framing a rebound as a possibility rather than confirmation that a lasting market low has formed. The results schedule gives investors a near-term checkpoint on cloud growth and company spending plans. Alphabet’s third-quarter results are due before its conference call at 4:30 p.m. ET (8:30 p.m. UTC) Wednesday, Oct. 28. Microsoft has scheduled its results release after market close Wednesday, without specifying an exact time. Amazon’s third-quarter results call is scheduled for 5 p.m. ET (9 p.m. UTC) Thursday, Oct. 29. Anthropic, PBC’s [public IPO filing]() adds company financials to the debate over AI investment. For the six months ended June 30, 2026, Anthropic had unaudited revenue of $16.286 billion, compared with $1.163 billion in the same period of 2025. Compute and infrastructure expenses rose to $8.945 billion from $2.334 billion, while the operating loss narrowed to $693 million from $2.135 billion. Anthropic’s net loss was $80.748 billion, including $72.388 billion from changes in the fair value of convertible notes, derivative liabilities and simple agreements for future equity (SAFEs). As of June 30, cash and cash equivalents totaled $112.389 billion, and short-term investments totaled $19.262 billion, for a combined $131.651 billion. Anthropic expects compute and infrastructure expenses to rise in dollar terms and remain its largest operating expense for the foreseeable future. The proposed offering remains subject to completion, and the registration statement must become effective before shares can be sold. The filing provides one view of AI infrastructure spending; the earnings schedule offers the next updates on cloud growth and spending plans from Alphabet, Microsoft and Amazon. ## Links in this article - [public IPO filing](https://www.tokenpost.com/news/business/41168)