Barry, OppHub America Desk · · Source: yahoo-tickers-tape-movers
Big Tech's massive AI spending is causing another problem for investors
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Based on reporting from yahoo-tickers-tape-movers.
Combined buybacks for Alphabet ( GOOGL ), Amazon ( AMZN ), Meta ( META ), Microsoft ( MSFT ) and Oracle ( ORCL ) — aka the country's main AI hyperscalers — fell to a mere $4.4 billion in the third quarter, per numbers crunched by the Kobeissi Letter. This marks the lowest dollar amount spent dating back to the third qu
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Combined buybacks for Alphabet ( $GOOGL+WL ), Amazon ( $AMZN+WL ), Meta ( META ), Microsoft ( $MSFT+WL ) and Oracle ( ORCL ) — aka the country's main AI hyperscalers — fell to a mere $4.4 billion in the third quarter, per numbers crunched by the Kobeissi Letter. This marks the lowest dollar amount spent dating back to the third quarter of 2017. The third quarter also represented the third straight quarter buybacks have been below $5 billion. Share repurchases for this group have dropped a stunning 90% since the $45.9 billion peak recorded in the fourth quarter of 2021. "The era of massive Big Tech stock buybacks is over," the Kobeissi Letter team said.
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Story playbook
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Snapshot date: November 5, 2026 at 1:46 PM ET
This playbook was built when the story published and is not live-updated. Prices, news, and risk can change after this date — treat it as a starting map, not a current trade ticket.
Story → money map
AI infrastructure spending
The biggest tech companies are spending much less money buying back their own stock. Investors care because it shows these companies are pouring all their cash into expensive artificial intelligence projects instead of rewarding shareholders.
What changed
Big Tech share buybacks plunged below $5 billion for the third straight quarter as capital shifted toward AI infrastructure.
Who wins / who loses
AI hardware and infrastructure providers benefit from redirected capital, while income-focused shareholders relying on buybacks lose out.
Time horizon
Think in terms of the next few months.
Confidence & best fit
medium confidence · Long-term investor, Active trader
Safer theme exposure (ETFs)
Baskets that own the theme without betting on one company.
Single stocks (higher risk)
Primary = closest to the story · Peers = same industry · Second-order = knock-on effects · Avoid = looks related but may be a trap
Primary
- $GOOGLWatch — track, don’t rush
Google is buying back fewer of its own shares because it is spending heavily on artificial intelligence instead.
View $GOOGL chart → · End-of-day delayed data
- $MSFTWatch — track, don’t rush
Microsoft is prioritizing spending money on new computer systems for AI over buying back its own stock.
View $MSFT chart → · End-of-day delayed data
- $AMZNWatch — track, don’t rush
Amazon's heavy spending on cloud and AI data centers means less cash is left over for stock buybacks.
View $AMZN chart → · End-of-day delayed data
- $METAWatch — track, don’t rush
Meta is channeling its profits into massive computing power for future technology projects.
View $META chart → · End-of-day delayed data
Peer
- $ORCLWatch — track, don’t rush
Oracle is also holding onto its cash to build out cloud data centers.
View $ORCL chart → · End-of-day delayed data
Options (education only)
No strikes or expiries — a framework for how traders might express the view. Options can expire worthless.
Beginners should skip options here and stick to understanding how tech companies spend their money.
See options-friendly brokers →Income / OppHub America angle
Not a trade tip — ways to use the insight outside the market.
- Monitor data center real estate investment trusts benefiting from hyperscaler leasing demand.
What would break this thesis
- A sudden reacceleration of share buybacks and a significant slowdown in AI capital expenditures.
What to do next on OppHub America
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Important
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Based on reporting from yahoo-tickers-tape-movers.
Informational and educational only — not investment, financial, or legal advice. Disclosure
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