# Capital Expenditure

Big Tech’s $660bn AI Gamble Sparks Market Panic as Investors Question the Payoff

Big U.S. tech companies plan roughly $660 billion of AI-related capital spending in 2026, triggering a sharp market sell-off despite strong revenue growth. Investors worry the large, front-loaded investments will lengthen return timelines and concentrate risk, while Apple’s lower-spend, partnership-led approach has been rewarded.