Three companies added the GDP of Spain to their valuations in five trading days. Microsoft, Amazon, and Alphabet (Google’s parent company) collectively tacked on nearly $1.5 trillion in market capitalization this week.
The surge puts Alphabet at roughly $4.3 trillion in market cap, with Microsoft sitting around $2.8 trillion and Amazon near $2.5 trillion.
The AI spending machine behind the rally
The four largest hyperscalers, which include Meta alongside this week’s three big winners, have guided for a combined $725 billion in capital expenditures for 2026. That’s a 77% increase compared to the prior year.
A volatile road to get here
