Amazon, Alphabet and Meta Post Negative Cash Flow as AI Buildout Outpaces Earnings

Amazon, Alphabet, and Meta each reported negative free cash flow last quarter. The combined free cash flow of the four largest US technology companies fell to a $27B deficit from $61B a year ago. The group's aggregate capital expenditures for AI infrastructure reached $203B in three months. Amazon raised $48.1B in debt and Alphabet sold $28.7B in bonds and $12.4B in new shares.