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Quarterly results highlight a bifurcation: Microsoft revenue +18% with a $678bn backlog and Azure revenue surpassing $100bn; Meta revenue +28%. Visible Alpha shows Microsoft capex growth has run hot for three years—average ~62% for 2024–26—well above

2026-07-30

Quarterly results highlight a bifurcation: Microsoft revenue +18% with a $678bn backlog and Azure revenue surpassing $100bn; Meta revenue +28%. Visible Alpha shows Microsoft capex growth has run hot for three years—average ~62% for 2024–26—well above Azure’s ~37% revenue growth; Meta’s Q2 free cash flow fell 91% as data-center spending surged. Analysts estimate 2026 capex for the four big cloud vendors (Meta, Microsoft, Alphabet, Amazon) at about $698bn, roughly equal to the projected free cash flow of four major chipmakers (NVIDIA, SK Hynix, Samsung, Micron). The market takeaway: demand may not be the constraint—spending is. Investors will remain cautious until Microsoft Azure revenue growth sustainably outpacing capex and Meta shows demonstrations AI-driven improvement in margins and free cash flow. AI-driven cash is flowing to chipmakers while returns to large cloud players remain congested.

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2026-07-30

Lihexing said Shanghai Yuliangsheng is a customer, but represents only a small portion of its business.

Lihexing said Shanghai Yuliangsheng is a customer, but represents only a small portion of its business.
2026-07-29

U.S. Central Command: A U.S. Air Force F-16 fighter jet patrols over the Middle East. The F-16 is capable of performing a variety of missions, including air-to-air combat, air-to-ground attack, tactical reconnaissance, and close air support.

U.S. Central Command: A U.S. Air Force F-16 fighter jet patrols over the Middle East. The F-16 is capable of performing a variety of missions, including air-to-air combat, air-to-ground attack, tactical reconnaissance, and close air support.
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