Yorkville Ives Partner and Senior Managing Director Dan Ives projects a roughly 25% decrease in capital raises for Microsoft Corp. (NASDAQ:MSFT), Meta Platforms Inc.
(NASDAQ:META), Alphabet Inc. com Inc.
(NASDAQ:AMZN) over the next year, coinciding with a forecasted peak in capital expenditure growth in 2027. Ives anticipates this revised timeline will ultimately trigger a “massive FCF ramp” for these companies between 2029 and 2030.
Capex Growth and Capital Raises Ives, a Wall Street technology analyst of over 25 years, stated that the capital expenditure growth rate for Big Tech companies will now peak in 2027. ” Concurrently, Ives expects capital raises in Big Tech derived from “debt/equity/ATMs, etc” to be roughly 25% lower over the upcoming year as the broader capex trajectory shifts over the next few years.
” Microsoft, Meta, Alphabet, and Amazon…Free cash flow will trough in 1H2027 and starting in the 2H of next year will start to show a trajectory towards a major rebound in 2028 and massive FCF ramp in 2029-2030. co/RKVqTeRhpF— Dan Ives (@DivesTech) November 5, 2026 Read Also: Dan Ives Warns Chip Stocks Aren't Done Falling, Sees Another 12% Drop — But Tom Lee Calls AI Selloff an 'Overreaction,' Predicts 20% Tech Rally Free Cash Flow Trajectory According to Ives, free cash flow (FCF) for Microsoft, Meta, Alphabet, and Amazon is expected to reach a trough in the first half of 2027.
” AI Bubble Concerns Dismissed Addressing broader market anxieties regarding heavy artificial intelligence (AI) infrastructure investments, Ives dismissed the notion of excessive expansion negatively impacting these companies. ” How Have These Stocks Performed?
47% Read Also: Dan Ives Says Democratic Sweep Will Slow AI Buildout, Estimates 10% Of Planned US Data Centers ‘Will Not Happen Now’ Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
