According to Jinshi Data, Alphabet, Amazon, Meta, Microsoft, and Oracle collectively repurchased approximately $9 billion in Q1, marking a near-decade low and a more than 80% decrease from the peak of approximately $50 billion in 2021. Among them, Meta's Q1 buybacks dropped to zero, compared to $12.75 billion in the same period last year. Bloomberg statistics show that among the four major AI spenders—Alphabet, Amazon, Meta, and Microsoft—only Microsoft continues to implement buybacks. The annual capital expenditure forecast for the five companies has been raised from approximately $485 billion at the beginning of the year to around $730 billion.
