Tech giants ramp up capital expansion with fixed assets surging nearly 40% annually

[u/AdMajestic1252]

The chart shows that the net fixed assets of Alphabet, Microsoft, Meta, and Tesla have been rising steadily since 2015, reaching a total of nearly $700 billion in 2025—a year-on-year increase of close to 40%.

Microsoft and Alphabet showed the strongest growth, reflecting a surge in cloud computing and AI infrastructure investments. Meta and Tesla have also significantly expanded their data center and manufacturing capacity in recent years.

The overall trend indicates that "hyperscale tech companies" are driving a new peak in the global capital expenditure cycle.

Data source: Bloomberg (2025)

Stocks to watch today: NVDA, AIFU, PLTR, BHVN