Alphabet has proposed an $80 billion equity capital raise to expand AI infrastructure and compute, according to its investor announcement. The primary source states the proceeds target multi-year scaling of data centers and accelerators. Microsoft reported $56.9 billion in capital expenditures for fiscal 2024 in its 10-K filing, with the majority allocated to AI servers. Amazon disclosed $17.6 billion in Q2 2024 capex, primarily for AWS infrastructure growth per its earnings release. These filings show consistent redirection of free cash flow toward compute hardware rather than other business segments.