Hyperscaler Earnings on Deck With AI Capex in Sharp Focus

Microsoft, Amazon, and Google will headline this week’s earnings, with investors dissecting AI-related capital expenditure, inference monetization, and cloud growth durability. Street models imply double-digit revenue expansion for the trio, led by continued enterprise migration and new generative-AI workloads. Analysts will watch bookings, GPU supply visibility, and margin impacts from accelerated data-center buildouts. Commentary on proprietary models versus third-party partnerships, as well as pricing for AI services, could set sector tone. Results may also reset expectations for 2026 free-cash-flow trajectories across the megacap tech complex.