Microsoft shares rose 15.5% on July 30, while Meta fell 8%, giving investors two sharply different ways to assess Big Tech’s AI infrastructure boom. Microsoft paired heavy spending with faster Azure growth, rising Copilot adoption and a larger commercial backlog. Meta’s advertising business grew strongly, but expenses climbed and free cash flow dropped.
Microsoft is not spending cautiously. It reported $41 billion in quarterly capital expenditures, while Meta expects total 2026 capital expenditures of $130 billion to $145 billion. The periods and accounting details differ, so the figures are not directly comparable. Investors responded more…
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