Keep pulling the thread on Bloomberg Intelligence.
Meta's stock traded down 10% after the company announced an increase in capital expenditures without a clear plan for AI monetization.
Meta is planning to sell up to $25 billion in investment-grade bonds to fund its spending plans.
Management teams at major tech companies report that demand for AI compute far exceeds the available supply, indicating an investment 'super cycle'.
Amazon's cloud business has a $150 billion run rate and is growing at 28%.
Google's cloud business has an $80 billion run rate and is growing at 63%.
Google's cloud business growth accelerated from 48% to 63% quarter-over-quarter.
Microsoft's Azure is estimated to be a $110 billion business growing at 40%.
Out of an estimated 200 million 'power users' of Microsoft Office, only 20 million are currently paying for CoPilot AI tools, representing a 10% penetration rate.
Eli Lilly raised its 2026 sales guidance by $2 billion, from a low-end of $80 billion to $82 billion, driven primarily by ex-US sales.
Caterpillar raised its long-term growth targets for 2030 and announced plans to invest in expanding its large engine capacity.
A large portion of Caterpillar's power and energy business growth is tied to the build-out of AI data centers.
Meta's top-line growth is 33% at a $200 billion run rate.