MSFTGOOGAMZN

Review|GOOG\MSFT\AWS: CAPEX上调，2026年终于成为云的加速增长年

Mo·2026年4月30日

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

GOOG

1. GCP加速增长

a) GCP同比增长63%，与我们Preview的完全一致

b) GCP Backlog达到460Bn，几乎环比翻倍

2. CAPEX上调

a) 2026年CAPEX从175B-185B上调到180B-190B

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