The AI 100's capital spending over the depreciation of what it already owns. Above 1.0× it is building faster than its assets wear out.
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82 companies counted for Q2 2026. Dollar figures are the trailing twelve months, or at the period end for balance-sheet items.
| Company | Depreciation | Capex | Its own figure | Share of market cap |
|---|---|---|---|---|
| NVIDIANVDA | $3.69B | $7.35B | 2.0× | 14.5% |
| AlphabetGOOGL | $25.24B | $132.40B | 5.2× | 12.6% |
| AppleAAPL | $13.10B | $10.04B | 0.8× | 12.1% |
| MicrosoftMSFT | $38.53B | $115.95B | 3.0× | 8.0% |
| AmazonAMZN | $75.20B | $169.01B | 2.2× | 7.4% |
| BroadcomAVGO | $8.75B | $860.0M | 0.1× | 5.8% |
| TeslaTSLA | $6.48B | $12.92B | 2.0× | 4.6% |
| Meta PlatformsMETA | $22.73B | $89.33B | 3.9× | 4.2% |
| MicronMU | $9.01B | $25.26B | 2.8× | 3.0% |
| AMDAMD | $3.03B | $1.72B | 0.6× | 2.5% |
| OracleORCL | $9.29B | $55.66B | 6.0× | 1.9% |
| IntelINTC | $12.38B | $12.11B | 1.0× | 1.9% |
| Lam ResearchLRCX | $441.5M | $966.4M | 2.2× | 1.4% |
| Cisco SystemsCSCO | $2.54B | $1.41B | 0.6× | 1.3% |
| Applied MaterialsAMAT | $527.0M | $2.77B | 5.3× | 1.2% |
| KLAKLAC | $394.0M | $375.9M | 1.0× | 1.1% |
| GE VernovaGEV | $1.20B | $1.50B | 1.2× | 0.9% |
| Palantir TechnologiesPLTR | $28.0M | $42.0M | 1.5× | 0.8% |
| Palo Alto NetworksPANW | $930.0M | $440.0M | 0.5× | 0.8% |
| Dell TechnologiesDELL | $3.04B | $3.59B | 1.2× | 0.8% |
| SanDiskSNDK | $149.0M | $177.0M | 1.2× | 0.8% |
| AmphenolAPH | $1.30B | $1.14B | 0.9× | 0.6% |
| Arista NetworksANET | $92.7M | $151.3M | 1.6× | 0.6% |
| QualcommQCOM | $1.57B | $1.97B | 1.3× | 0.6% |
| CrowdStrikeCRWD | $351.5M | $491.0M | 1.4× | 0.6% |
| SeagateSTX | $276.0M | $569.0M | 2.1× | 0.5% |
| AppLovinAPP | $134.1M | $0.00 | 0.0× | 0.5% |
| EatonETN | $1.18B | $950.0M | 0.8× | 0.5% |
| MarvellMRVL | $1.26B | $477.4M | 0.4× | 0.5% |
| Uber TechnologiesUBER | $774.0M | $308.0M | 0.4× | 0.4% |
| Intuitive SurgicalISRG | $794.2M | $437.8M | 0.6× | 0.4% |
| VertivVRT | $387.2M | $430.2M | 1.1× | 0.4% |
| Quanta ServicesPWR | $1.03B | $787.1M | 0.8× | 0.3% |
| CadenceCDNS | $327.3M | $176.2M | 0.5× | 0.3% |
| EquinixEQIX | $2.19B | $6.53B | 3.0× | 0.3% |
| SnowflakeSNOW | $321.1M | $58.0M | 0.2× | 0.3% |
| CumminsCMI | $1.12B | $1.28B | 1.1× | 0.3% |
| DatadogDDOG | $105.7M | $156.3M | 1.5× | 0.3% |
| Constellation EnergyCEG | $3.67B | $3.90B | 1.1× | 0.3% |
| CloudflareNET | $303.5M | $318.6M | 1.0× | 0.3% |
| Bloom EnergyBE | $85.1M | $112.9M | 1.3× | 0.3% |
| Astera LabsALAB | $16.1M | $59.0M | 3.7× | 0.2% |
| CoherentCOHR | $521.9M | $1.10B | 2.1× | 0.2% |
| SynopsysSNPS | $1.96B | $190.6M | 0.1× | 0.2% |
| Nebius GroupNBIS | $863.8M | $11.14B | 12.9× | 0.2% |
| Comfort SystemsFIX | $155.5M | $386.5M | 2.5× | 0.2% |
| TeradyneTER | $132.6M | $265.0M | 2.0× | 0.2% |
| Monolithic PowerMPWR | $60.1M | $236.8M | 3.9× | 0.2% |
| LumentumLITE | $267.0M | $408.9M | 1.5× | 0.2% |
| Hewlett Packard EnterpriseHPE | $3.49B | $2.12B | 0.6× | 0.2% |
| Digital RealtyDLR | $2.00B | $2.93B | 1.5× | 0.2% |
| Rockwell AutomationROK | $322.0M | $228.0M | 0.7× | 0.2% |
| KeysightKEYS | $393.0M | $135.0M | 0.3× | 0.2% |
| CoreWeaveCRWV | $4.57B | $20.57B | 4.5× | 0.2% |
| FlexFLEX | $709.0M | $729.0M | 1.0× | 0.2% |
| VistraVST | $2.78B | $2.70B | 1.0× | 0.2% |
| CienaCIEN | $175.1M | $240.3M | 1.4× | 0.2% |
| GlobalFoundriesGFS | $1.25B | $1.11B | 0.9× | 0.1% |
| Axon EnterpriseAXON | $109.4M | $132.6M | 1.2× | 0.1% |
| Credo TechnologyCRDO | $49.8M | $61.8M | 1.2× | 0.1% |
| NRG EnergyNRG | $1.05B | $1.21B | 1.1× | 0.1% |
| HubbellHUBB | $238.7M | $166.8M | 0.7× | 0.1% |
| Symbotic IncSYM | $35.8M | $99.0M | 2.8× | 0.1% |
| ZscalerZS | $274.9M | $350.5M | 1.3× | 0.1% |
| Onto InnovationONTO | $84.3M | $13.8M | 0.2× | 0.1% |
| FabrinetFN | $68.4M | $251.1M | 3.7× | 0.1% |
| BWX TechnologiesBWXT | $118.4M | $202.4M | 1.7× | 0.1% |
| Super Micro ComputerSMCI | $90.3M | $162.0M | 1.8× | 0.1% |
| Talen EnergyTLN | $296.0M | $352.0M | 1.2× | 0.1% |
| GeneracGNRC | $214.8M | $165.8M | 0.8× | 0.1% |
| AlcoaAA | $657.0M | $689.0M | 1.0× | 0.0% |
| Applied DigitalAPLD | $67.4M | $2.87B | 42.5× | 0.0% |
| TrimbleTRMB | $202.1M | $26.0M | 0.1× | 0.0% |
| CognexCGNX | $29.0M | $1.6M | 0.1× | 0.0% |
| Globus MedicalGMED | $279.5M | $154.8M | 0.6× | 0.0% |
| OkloOKLO | $773,000 | $158.9M | 205.6× | 0.0% |
| Kratos DefenseKTOS | $76.9M | $89.3M | 1.2× | 0.0% |
| AeroVironmentAVAV | $257.1M | $103.6M | 0.4× | 0.0% |
| AmbarellaAMBA | $25.0M | $17.6M | 0.7× | 0.0% |
| NuScale PowerSMR | $1.2M | $2.5M | 2.0× | 0.0% |
| Fluence EnergyFLNC | $41.1M | $31.1M | 0.8× | 0.0% |
| Centrus EnergyLEU | $9.6M | $108.8M | 11.3× | 0.0% |