Capital · deployed

~$97-107B/yr capex in-flight + $250B Azure/OpenAI compute earmarked

high confidence · as of 2026-07-26 · about Microsoft

Sourced figures 2

stockanalysis.com MSFT cash-flow statement capex (P&E additions) $97,225M TTM (annualizing toward ~$107B); $64,551M FY25 — the earmark is rising
2026-03 high
Wikipedia OpenAI (attrib. reporting) — via kestrel openai-axes bundle $250B Azure services agreement to OpenAI (multi-year committed compute)
2025 med

the working

Threads 11

Memory Squeeze developing
Microsoft's Hedge developing
Hyperscaler Capex open
Microsoft Capex developing
Compute Spend open
Power Buildout open
In-House Silicon open
Nuclear for AI open
Big Tech into Health open
Microsoft Health open
Dragonfly Return open

A claim is one metric we assert about a node — the value is the summary, this page is the receipt. Sourced from kestrel; supersedes-history not yet shown. Back to Microsoft.