Shares of Amazon, Meta and Microsoft tumbled after Alphabet hiked its 2026 capital expenditure forecast, even as the search company reported accelerating cloud growth. The other three hyperscalers are all set to report results this week. Alphabet's move makes it more likely that Amazon and Microsoft will follow course, according to Evercore ISI's Mark Mahaney. Investors expressed displeasure with Alphabet's plans, announced on Wednesday along with second-quarter earnings, to boost its 2026 capex forecast, as the internet giant rushes to open new data centers for artificial intelligence.