U.S. Big Tech companies are accelerating their AI investment, raising their combined capital expenditure (CAPEX) forecast for this year from a previous range of $695 billion to $725 billion to a new range of $720 billion to $745 billion, according to industry data on the 11th. Amazon raised its annual capex forecast the most, from $200 billion to $220 billion. Google lifted its range from $180 billion–$190 billion to $195 billion–$205 billion. Meta raised the lower end of its guidance from $125 billion to $130 billion, presenting a range of $130 billion to $145 billion. Microsoft's official figure declined from $190 billion to $175 billion due to an accounting effect from certain data center lease agreements being classified as operating leases, with the actual investment scale unchanged. The aggressive investment follows explosive cloud business growth. Google Cloud's second-quarter revenue surged 82% year-over-year to $24.8 billion, with a backlog of $514 billion. Microsoft's Azure posted a 43% increase in quarterly revenue, surpassing $100 billion annually for the first time on a fiscal-year basis. AWS saw second-quarter revenue grow 37%, its highest growth rate in 18 quarters. Meta achieved second-quarter revenue of $60.8 billion, up 28%. All four companies—Alphabet (24%), Meta (28%), Amazon (20%), and Microsoft (18%)—recorded double-digit revenue growth, refuting market warnings about