Alphabet, Amazon, Meta, and Microsoft have collectively committed close to $2.4 trillion in AI infrastructure spending, including $902 billion for Alphabet and nearly $700 billion for Meta, drawn from corporate disclosures. A $2.7 trillion market value wipeout hit these same companies during a June 2026 selloff, as the five largest data-center spenders added roughly $350 billion in debt over five years. Bitcoin miners (IREN, Hut 8, TeraWulf, Core Scientific) have secured approximately $90 billion in AI and high-performance computing contracts, with AI revenues projected to grow from 30% to 70% of total income by end of 2026. Trump’s July 2026 Ratepayer Protection Pledge confirmed that AI-driven power costs will be borne by corporations rather than passed on to residential consumers.
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