Big Tech Returns Just 9.3% of Cash to Shareholders as AI Spending Pushes Free Cash Flow Into Deficit

America’s largest technology companies generated a record $542.9 billion in operating cash flow during the first nine months of 2026, but returned a sharply smaller proportion of that money to shareholders as the cost of expanding artificial intelligence infrastructure absorbed an increasing share of their resources. Microsoft, Alphabet, Amazon, Meta and Oracle returned just 9.3% […]

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