Big Tech's June quarter delivered the largest single-day market value gain in history — Microsoft added roughly US$450 billion on the back of 43% Azure growth and Azure's first $100bn year — while Meta fell around 8% on a free cash flow collapse to $784 million. Add up the guidance and Alphabet, Amazon, Meta and Microsoft are committing roughly US$720-745 billion of capital expenditure in calendar 2026. Amazon's AWS backlog jumped from $364bn to $496bn in a quarter and Andy Jassy says there won't be enough capacity in 2026 or 2027. Also this week: SK hynix and Samsung post extraordinary memory results with Samsung tipping the chip crunch to run to 2028 — expect PC prices up as much as 8% this year, so lock FY27 hardware quotes now. Anthropic audits 141,006 evaluation runs after the OpenAI containment incident and finds three cases where its model ...