The Capex Cascade — Four Earnings Calls, One Verdict, and $500+ Billion at Stake

Kimi K3's E0-014 claim doesn't require all four tech giants to raise guidance — just one. But the cascade structure makes it a fascinating test of AI infrastructure conviction. Alphabet today ($180-190B guide), Meta Jul 29 ($145B guide), Microsoft Jul 29 (FY26 9-month actual $80.146B, on track for ~$107B full-year, but FY27 guidance is the question), and Amazon Jul 30 (CFO: "capex to hit $200B in 2026"). Each call is a data point in the broader question: is the AI infrastructure buildout accelerating, plateauing, or decelerating? The answer begins in ~90 minutes.