Bond Market Faces Historic Shock As Mag 7 Giants Turn Cash Flow Negative To Fund Capex Tsunami

There were audible gasps of shock over the past two weeks when first Alphabet and then Meta and Amazon revealed capex plans for 2026 that blew away expectations. It wasn't just them: the entire hyperscaler complex (AMZN, GOOGL,MSFT, META) projected capex guidance for 2026 that was a staggering $650BN... and if you throw in ORCL and CRWV it rises to $740BN...