🚨 Big Tech is reallocating capital from buybacks to AI CapEx. Combined share repurchases by Amazon ($AMZN), Alphabet ($GOOGL), Microsoft ($MSFT), Meta ($META), and Oracle ($ORCL) fell to $12.6B in Q4 2025 the lowest since Q1 2018. Buybacks are down ~74% from the $48B peak in 2021. • Amazon has not repurchased shares since Q2 2022, redirecting capital into AI infrastructure. • Meta cut buybacks sharply vs $33.5B in 2021. • Alphabet reduced repurchases to $17B, nearly half of the same period in 2024. Capital is being redirected toward compute, data centers, and AI infrastructure. 📊

🚨 Big Tech is reallocating capital from buybacks to AI CapEx.

Combined share repurchases by Amazon ($AMZN), Alphabet ($GOOGL), Microsoft ($MSFT), Meta ($META), and Oracle ($ORCL) fell to $12.6B in Q4 2025 the lowest since Q1 2018.

Buybacks are down ~74% from the $48B peak in 2021.

• Amazon has not repurchased shares since Q2 2022, redirecting capital into AI infrastructure.
• Meta cut buybacks sharply vs $33.5B in 2021.
• Alphabet reduced repurchases to $17B, nearly half of the same period in 2024.

Capital is being redirected toward compute, data centers, and AI infrastructure. 📊