SHIFT · GLOBAL
Microsoft holds 2026 capex flat, delays infrastructure expansion plans
Microsoft kept 2026 capital spending unchanged and signaled slower infrastructure buildout despite record AI demand. Cloud operators and neocloud vendors (CoreWeave, Nebius, IREN) fell sharply on expectation of delayed hardware orders.
WHY IT MATTERS
AI infrastructure boom cooling; major capex deceleration means model inference costs will stabilize or rise. BFSI GenAI ROI calculations built on falling compute costs now face headwind.
Source: CNBC · 2026-10-28