Big Tech's $600 billion AI spending spree faces scrutiny as Alphabet, Microsoft, Meta, and Amazon report earnings, with Bitcoin miners also pivoting to AI.

Alphabet, Microsoft and Amazon will report earnings over the next two weeks as investors look for evidence that AI spend is paying off

Alphabet and Tesla report Q2 2026 earnings on July 22. Tesla holds 11,509 BTC with unrealized losses, while Alphabet's AI capex hits $180-190B.