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Big Tech's combined free cash flow hits lowest level since 2014
Amazon, Alphabet, Microsoft, and Meta are projected to post combined free cash flow of ~$4B in Q3, the lowest full-year level since 2014, as capital spending on infrastructure surges.
Financial Times: Analysis: the combined free cash flow of Amazon, Alphabet, Microsoft, and Meta is expected to fall to ~$4B in Q3 and hit its lowest full-year level since 2014 — Silicon Valley giants have transformed from asset-light cash machines to huge infrastructure investors
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