Hyperscaler Spend
Hyperscaler CapEx going back to 2020 — MAG, MANGOS, neoclouds, and the four public hyperscalers.
Hyperscaler spend is collected from company filings, earnings disclosures, capital-expenditure guidance, and research estimates. The page provides annual CapEx groupings and company rows from 2020 onward. MAG is Microsoft, Amazon, and Google; MANGOS adds other large spenders; neoclouds are GPU-centric hosts.
Companies considered include Amazon / AWS, Google, Microsoft, Meta, other large cloud buyers in the MANGOS grouping, and newer AI labs or neoclouds where public disclosures support a research estimate. Google is counted once when it appears in both a grouping name and a company row.
Rising CapEx pulls demand through the stack: more dollars for AI infrastructure mean more CPU, GPU/ASIC, and HBM. If supply coverage is already below 100%, a CapEx surge tightens the market further — longer lead times and stronger vendor pricing. Flattening or falling CapEx eases component demand and is usually the first sign that shortages will loosen.
Hyperscaler CapEx
HyperScalerCapex: MAG, MANGOS (Google excluded from the MANGOS sum), and neoclouds. Company rows below.
Download PNG · Through 2025
Hyperscaler CapEx by company
AWS, Google, Microsoft, and Meta link CapEx_Annual. Anthropic / OpenAI / SpaceX are yellow estimates.
Download PNG · Through 2025
Last model update:
How to interpret this data
Use this signal with the underlying Demand and Supply pages before drawing conclusions about pricing power, availability, or spending momentum.
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Frequently asked questions
What does this page measure?
Hyperscaler CapEx going back to 2020 — MAG, MANGOS, neoclouds, and the four public hyperscalers.
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