Microsoft Guides Q2 Capex Above $50 Billion Following Prior Quarter Spending Miss

Microsoft projected that capital expenditures will exceed $50 billion in the next quarter and reach approximately $170 billion for the full calendar year, according to CFO Amy Hood. The forward guidance followed a quarterly capital expenditure and finance lease print of $45.2 billion, which grew 30% year-over-year but missed StreetAccount consensus estimates of $50.7 billion due to third-party delivery delays. The shortfall triggered selloffs in specialized neocloud infrastructure providers, with CoreWeave and Nebius dropping as much as 7% and Iren declining more than 5%.