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Capital Expenditure
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Amazon just told you the AI spending war has no ceilingAmazon is lifting its 2026 AI infrastructure budget to roughly $220bn, a figure that dwarfs what most FTSE 100 companies are worth combined. This is a wager that whoever owns the most compute capac…AWS growth reaccelerating is the number that moved Amazon's stockCloud revenue growth ticking back up after several quarters of deceleration is what actually justifies the $220bn capex figure sitting alongside it in the same earnings release. Wall Street had bee…Rivian cuts spending while Ferrari raises its forecast, same weekRivian trimming its 2026 spending plans and narrowing earnings guidance is capital discipline dressed up as strategy, a tacit admission that EV volume growth isn't materialising fast enough to just…Bradesco is putting $2 billion behind a digital-only betBrazil's second-largest private bank approved a $2 billion capital increase specifically earmarked for digital expansion, a direct response to Nubank's relentless share gains in Brazilian retail ba…Dangote's $2.5bn refinery expansion is a bet on Africa never importing fuel againThe record investment scales up what is already the largest single-train refinery in the world, targeting Nigeria's decades-long dependence on imported refined fuel despite being Africa's biggest c…Google's AI burn hits $6bn a quarter, and Wall Street is now repackaging the debtAlphabet is spending faster than it can justify on an earnings call, and the banks financing the arms race are already looking to offload the risk. Google burned roughly $6bn in cash last quarter a…Japan's bullet trains are about to get faster, againJapan's next-generation maglev and shinkansen upgrades are targeting speeds past 360 km/h under a national moonshot programme, aiming to cut Tokyo-Osaka travel time further and keep JR Central's Ch…AI is coming for the industry that hates forecasting the mostCommodity trading has resisted automation for decades because prices swing on droughts, coups and OPEC whims that no model handles cleanly, and that resistance is now cracking. Trading houses are f…Data-centre builders are selling stakes before the AI capex bill comes dueWhen the people building the infrastructure start selling pieces of it, that's not confidence, that's balance-sheet management. Data-centre developers are reportedly racing to offload billions in s…South Korea's $880bn chip bet dwarfs anything Europe or the UK can deploySeoul has announced an 880 billion dollar investment programme in semiconductors and AI infrastructure, combining state incentives with commitments from Samsung and SK Hynix across advanced packagi…Samsung and SK Hynix's $1.3 trillion bet is a commitment to Korean semiconductor dominance that dwarfs any Western industrial policyA combined ten-year investment pledge of $1.3 trillion from Samsung and SK Hynix is the kind of number that makes the UK's semiconductor strategy look like a rounding error. The capital is targeted…BHP takes a $2.3bn writedown on Jansen potash. The mine keeps getting more expensive.BHP's Jansen potash project is becoming the mining industry's most expensive lesson in greenfield cost discipline. The company has flagged a $2.3 billion impairment and simultaneously disclosed tha…Google raises $85bn to fund AI spending spreeAlphabet has launched its first primary equity offering in over 20 years, targeting $85 billion through new Class C shares to fund aggressive AI infrastructure investment. The raise reflects a stra…Chinese firms accelerate coal plant plans despite climate pledgesChinese companies proposed a record 161 GW of new coal power in 2025, even as Beijing committed to peak emissions before 2030 and phase down coal after 2025. Global Energy Monitor data shows 291 GW…Saudi Arabia's trillion-dollar spending spree hits the brakesSaudi Arabia's Public Investment Fund will cut foreign assets from 30% to 18% of its $925 billion portfolio as megaproject costs force a strategic retreat from global buying sprees. PIF Governor Ya…SpaceX scrubs first Starship V3 launch moments before liftoffThe newly redesigned rocket was fueled and seconds from launch when SpaceX called a halt, marking another setback for a system the company has spent $15 billion developing. Friday's attempt represe…Asia enters AI infrastructure supercycle worth $16 trillionMorgan Stanley's Asia team is calling a new industrial supercycle as the region's fixed investment heads toward $16 trillion by 2030, driven by AI infrastructure, energy transition, and defense spe…Big Tech's $650bn AI spending spree triggers investor revoltThe arithmetic is brutal: Alphabet, Amazon, Meta, and Microsoft will collectively burn through $650 billion in 2026, mostly on AI infrastructure that generates no immediate revenue. Meta hiked its …Meta shares crater 13% as AI spending reality bitesMeta stock fell 13% this week after the company raised 2026 capex guidance to $145 billion, driven by AI infrastructure and a Texas data center that ballooned from $1.5 billion to $10 billion. Lega…Amazon commits $200bn to AI infrastructure in cloud arms raceAmazon raised quarterly capex to $31.4 billion, implying an annualized pace exceeding $118 billion as AWS chases AI demand. The company plans $200 billion for data centers and specialized chips, in…