That could bring Meta’s total expenses to around $150 billion in 2026—nearly triple what the company spent just five years ago. With his controlling share, Zuckerberg has the luxury of fully calling the company’s shots. He still can’t afford to miss.

Microsoft has said the spending is crucial to overcoming supply constraints that have hampered its ability to meet soaring AI demand. The fiscal first-quarter capital expenditure estimate of $30 billion surpassed analysts' expectations of $23.75 billion, according to Visible Alpha data.

Microsoft Corp. said it will spend more than $30 billion in the current quarter to build out the data centers powering its artificial intelligence services.

Microsoft's Azure cloud-computing business delivered another quarter of blockbuster growth on Wednesday, powering revenue above Wall Street's expectations and showcasing the growing returns on its massive artificial intelligence bets.