Microsoft Is the Last Big Tech Buyback Holdout: Alphabet, Meta, Amazon Go Dark as AI Spending Eats Cash, Says This Market Commentator

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Big Tech's era of mega buybacks is giving way to an era of mega artificial intelligence spending, as companies put their cash into data centers and technology buildout. Buybacks Fall to Lowest Level Since 2017 Combined share repurchases by Alphabet Inc.(NASDAQ:GOOGL) (NASDAQ:GOOG), Amazon.com, Inc.(NASDAQ:AMZN), Microsoft Corp. (NASDAQ:MSFT), Meta Platforms Inc.(NASDAQ:META) and Oracle Corp.(NYSE:ORCL) fell to $4.4 billion in the quarter ended in September, the lowest since 2017, The Kobeissi Letter said on X. That is down about 90% from a peak of roughly $45.9 billion in late 2021, and the third straight quarter below $5 billion. "AI spending is coming at the expense of Big Tech buybacks," the market commentator added.