Alphabet and Tesla took a hit from soaring AI spending. Will Microsoft, Meta and Amazon be next?
Reported by MarketWatch · marketwatch.com · July 28, 2026
Big Tech’s binge is draining free cash flow — and the bond markets are taking notice.
What the tape says
What to watch: AI infrastructure spend continues to concentrate in compute, memory, and power equipment.
Market reaction today: $MSFT +0.84%, $TSLA -3.83%, $AMZN +1.33%
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