🇺🇸North America’s four largest cloud-service providers collectively spent approximately $208.7 billion on capital expenditures in Q3 2026, up 84.2% year over year.

The aggregate comes from a China Securities communication-industry strategy report summarized on Telegram. The report puts third-quarter 2026 capital expenditure for the four major North American cloud-service providers at approximately $208.7 billion, an increase of 84.2% year over year. The supplied excerpt does not name the four companies or provide their individual expenditures.

The figure is total capital expenditure, not an identified GPU-purchasing budget. Although the report discusses it in the context of AI infrastructure investment, the excerpt does not separate AI spending from other capital expenditure. It also provides no breakdown among processors, servers, networking equipment, buildings, or power infrastructure.

The report supplies a separate commercialization metric for AI developers. It estimates combined annual recurring revenue, or ARR, for OpenAI and Anthropic at approximately $124 billion as of the end of September 2026; that is a different company group and metric from the cloud-provider expenditure total. For additional market context, it places the Shenwan Communications Index’s trailing price-to-earnings ratio at the 60.45th percentile of its five-year history and the 34.93rd percentile of its ten-year history as of October 30.