{"slug": "the-capex-two-step", "title": "The CapEx Two-Step", "summary": "Microsoft reported quarterly earnings with a masterful management of capital expenditure expectations, avoiding the market backlash seen by Google and Meta after they raised their AI-related CapEx forecasts. Google pushed its forecast past $200B for the first time, and Meta raised its low-end guidance to $130B, both causing stock declines.", "body_md": "# The CapEx Two-Step\n\nMicrosoft's masterful management of CapExpectations...\n\nIt's that time of year again: quarterly earnings for Big Tech. And you know what that means... time for Wall Street to [freak out over CapEx spend](https://spyglass.org/wall-street-ai-capex/) related to AI build-out [once again](https://spyglass.org/apple-crazy-capex/). Sure enough, Google went first and upped their forecasted spend pushing the range past $200B for the first time. [The market puked](https://finance.yahoo.com/technology/article/google-falls-more-than-6-on-capex-growth-expectations-despite-earnings-beat-202407124.html?ref=spyglass.org). Next up, Meta. They simply raised the low-end of their previous guidance (to $130B up from $125B). [The market puked](https://www.reuters.com/business/meta-narrows-annual-capex-forecast-ai-buildout-grows-2026-07-29/?ref=spyglass.org).[ 1](#one) Then there's Microsoft...", "url": "https://wpnews.pro/news/the-capex-two-step", "canonical_source": "https://spyglass.org/the-capex-two-step/", "published_at": "2026-07-30 12:31:54+00:00", "updated_at": "2026-07-30 12:35:02.110222+00:00", "lang": "en", "topics": ["ai-infrastructure", "ai-policy"], "entities": ["Microsoft", "Google", "Meta", "Wall Street"], "alternates": {"html": "https://wpnews.pro/news/the-capex-two-step", "markdown": "https://wpnews.pro/news/the-capex-two-step.md", "text": "https://wpnews.pro/news/the-capex-two-step.txt", "jsonld": "https://wpnews.pro/news/the-capex-two-step.jsonld"}}