$555B OF CLOUD SPEND

Summary from the TLDR Founders newsletter

Microsoft and Google's latest earnings reveal the sheer scale of the AI boom. Together, they're sitting on $555 billion in cloud commitments. Both companies are doubling down on data centers, pushing toward a $100B annualized CapEx each. Microsoft plans to expand AI capacity by 80% and double its data center footprint within two years, while Google raised its 2025 CapEx forecast to $93B. Microsoft's commercial backlog has surged past $400B, and Google Cloud's hit $155B, signaling long-term demand strong enough to justify spending more than their entire cash reserves.