By Jeremy Bowman
Publication Date: 2026-04-30 14:07:00
Big tech earnings are in after Meta Platforms (META 9.90%), Alphabet, Amazon, and Microsoft all delivered their quarterly reports Wednesday afternoon, and there was a clear theme.
AI spending continues to rise, and the big hyperscalers are upping their capital expenditure forecasts for the year while cloud computing revenues are soaring.
Google Cloud reported 63% growth. Microsoft Azure was up 39%, and Amazon Web Services delivered 28% growth.
The news confirmed that the AI boom remains in good health and is even accelerating, given the improving growth rates in cloud computing. With AI spending heating up, there are a number of winners across the semiconductor sector, but Nvidia (NVDA 3.52%) may be the most obvious one. The data center GPU leader is a major supplier for all of the hyperscalers, and it’s likely to be a significant recipient of the increased capex, especially with its new Rubin platform scheduled to come online in the second half of the year.
However, one comment from Meta Platforms CEO Mark Zuckerberg was particularly promising for Nvidia and its peers.
Image source: Getty Images.
What Zuckerberg had to say
Meta itself delivered strong results in the first quarter, with revenue jumping 33%, fueled by a 19% increase in ad impressions and a 12% increase in average price per ad. However, the stock still fell as the company hiked its capital expenditures forecast for the year from $115 billion-$135 billion to $125 billion-$145 billion as investors seemed…
