Google, Microsoft and Amazon report gains in cloud-computing businesses while Meta spending draws concern

Amazon, Alphabet, Meta and Microsoft report quarterly results after the bell, and OpenAI is likely to be a big topic across the board.

Amazon, Alphabet, Meta Platforms and Microsoft alone represent more than 10% of the S&P 500's total market cap, FactSet data shows.

Microsoft, Alphabet, Meta, and Amazon all beat Q1 2026 expectations and all raised their AI infrastructure spending forecasts. Here's what the numbers actually say.