# 2026.19: Earning & Spending ![rw-book-cover](https://i0.wp.com/stratechery.com/wp-content/uploads/2026/05/GettyImages-2274230177.jpg?resize=1700%2C1133&ssl=1) ## Metadata - Author: [[Ben Thompson]] - Full Title: 2026.19: Earning & Spending - Category: #articles - Summary: Big tech companies like Apple, Amazon, Meta, Google, and Microsoft are investing heavily in AI and showing strong earnings. Joanna Stern discusses how AI is changing medicine and shares her experience writing a tech book. The Boston Celtics were unexpectedly eliminated early in the NBA playoffs, while other basketball stories also gained attention. - URL: https://stratechery.com/2026/earning-spending/ ## Highlights - **What We Learned from Big Tech’s First Quarter.** Apple, Amazon, Meta, Google and Microsoft all reported earnings last week, and as four of the five megacaps continue to pour massive sums into AI (first quarter CapEx was more than three times that of the Manhattan Project) ([View Highlight](https://read.readwise.io/read/01kr9hzbn2bccce1mh2jvff1kk))