AI Earnings From Four Tech Giants Land Tonight. Bitcoin Is Watching.

Amazon, Alphabet, Microsoft and Meta report Q1 2026 results after the close on April 29, creating a concentrated AI-earnings risk event for both equities and crypto. The four firms plan roughly $600 billion of AI capex in 2026 (Amazon ~$200bn, Alphabet $175–185bn, Microsoft $146bn, Meta $115–135bn), and analysts are watching cloud growth and ad-margin thresholds (Azure >38%, AWS >25%, Google Cloud >48%, Meta ad margins >40%). Bitcoin has shown elevated correlation with AI-exposed tech names (notably Nvidia), so a collective beat would likely buoy risk assets and crypto, while disappointing cloud growth or raised capex guidance could trigger a rapid risk-off move that hits Bitcoin and top AI tokens. The reports coincide with Powell’s final FOMC press conference, amplifying macro sensitivity. Overall, the outcome could either remove a major overhang for risk assets or catalyze sharp corrections across equities and crypto into the Asia session and weekend.