# AI capex — X 热门讨论 (2026-09-21 17:27 UTC)
## @GlobalMktObserv (Global Markets Investor) · 09-21 14:24 · ♥62 ↻22 💬9 🚨 The gap between spending and cash flow is EXPLODING across Big Tech:
Capital expenditures at Amazon, Meta, Microsoft, and Alphabet are projected to exceed $1 trillion in 2027 for the first time.
At the same time, combined free cash flow is projected to fall below -$100 billion.
This is a massive $1.1 trillion gap between spending and cash generation.
A year ago, free cash flow was around +$200 billion, while capex was ~$300 billion.
Now, AI spending is accelerating at the same time as the cash available to fund it is disappearing.
The bigger this gap becomes, the more Big Tech needs to rely on debt and equity markets to finance its AI buildout.
If AI spending fails to generate sufficient returns, the Nasdaq 100 could face a decline of as much as -50% over the next 6 months.
The stakes for AI companies have never been higher. https://x.com/GlobalMktObserv/status/2102041158650130742
## @TejaswiPalam (Tejaswi | AI Industrial Shift 🇮🇳) · 09-21 09:11 · ♥30 ↻4 💬4 DICABS just won ₹116 crore of 11kV cable orders
Gujarat is moving power lines underground
India’s power capex is shifting from generating power to upgrading the grid https://t.co/J1mMPIRS92 https://x.com/TejaswiPalam/status/2101962600817070310
## @MitchMartan98 (Mitchell Martan | TLI) · 09-21 13:58 · ♥36 ↻0 💬3 $META looks like the market now doesn't care about capex or negative FCF with the launch of Muse.
Very good to see for the AI trade. https://x.com/MitchMartan98/status/2102034714781483174
## @Alex_Panetta (Alexander Panetta) · 09-21 06:31 · ♥31 ↻0 💬1 He may be referring to the fact that Canadians revolutionized reinforcement learning (Sutton); backpropagation, deep learning and image recognition (Hinton and his team); linguistic context (Bengio), helped build the modern labs (Sutskever) and worked on the revolutionary paper that led to the transformer and changed modern AI (Gomez). If he's referring to that, he's right, and then some. If he means capex, erm, then no https://x.com/Alex_Panetta/status/2101922261183664452