Combined capital spending by Alphabet, Amazon, Apple, Meta, and Microsoft grew 32% in 2021, same as in 2020, to $140B, and 20% in the first nine months of 2022 (Richard Waters/Financial Times)

Richard Waters / Financial Times:Combined capital spending by Alphabet, Amazon, Apple, Meta, and Microsoft grew 32% in 2021, same as in 2020, to $140B, and 20% in the first nine months of 2022  —  Companies are not going to let up spending despite weakening economy  —  Investors have grown accustomed to periodic leaps …

Combined capital spending by Alphabet, Amazon, Apple, Meta, and Microsoft grew 32% in 2021, same as in 2020, to $140B, and 20% in the first nine months of 2022 (Richard Waters/Financial Times)

Richard Waters / Financial Times:
Combined capital spending by Alphabet, Amazon, Apple, Meta, and Microsoft grew 32% in 2021, same as in 2020, to $140B, and 20% in the first nine months of 2022  —  Companies are not going to let up spending despite weakening economy  —  Investors have grown accustomed to periodic leaps …