MSFTGOOGAMZN

Review | GOOG / MSFT / AWS: CapEx Raised — 2026 Finally Becomes the Year of Cloud Acceleration

Mo·April 30, 2026

Raised 2026-27 CapEx and surging AI backlogs point to CSP rev acceleration, with AWS re-accelerating post-OpenAI deal.

GOOG

1. GCP Acceleration

· GCP grew +63% YoY, fully in line with our Preview.

· GCP backlog reached $460B, nearly doubling QoQ.

2. CapEx Raised

· 2026 CapEx guidance lifted from $175–185B to $180–190B.

Continue reading with FUNDA

This report is available to subscribers. Sign in or subscribe to read the full analysis.