Microsoft, Alphabet, Amazon Report With $1.7T Committed

Microsoft and Alphabet report quarterly results after the market closes on Wednesday 28 October, the day the Federal Reserve’s October 27-28 meeting ends, according to Microsoft’s 7 October release, Nasdaq’s earnings calendar and the Fed’s own meeting calendar. Amazon follows on Thursday 29 October, its release says.

The three companies’ latest filings list $1.71 trillion of commitments between them, by our arithmetic from the line items in our 22 October commitments piece. Microsoft’s 10-K says its purchase commitments “primarily relate to datacenters”, as our piece reported.

This Week In The AI Supercycle · VIDEO

Our weekly explainer of the AI supercycle, 18-24 October 2026. It covers the week’s capacity and financing stories and does not discuss next week’s calendar.

The Week, Day by Day

A post by the account Bull Theory on 24 October set out the week as a run of events that could move the market. We checked each date against the organiser’s own page. The table keeps only the dates we could confirm.

Sources: Federal Reserve meeting calendar and rate table; Microsoft, Amazon and Intel releases; Sandisk newsroom; Nasdaq earnings calendar; Bureau of Economic Analysis schedule; Bank of Japan schedule and 18 September statement; all read 24 October 2026. Watch column from our own pieces.

What Is Already Committed

Our 22 October piece added up the commitment line items in each company’s latest 10-Q or 10-K. By our arithmetic, Alphabet’s come to $871.3 billion, Microsoft’s to $557.73 billion and Amazon’s to $285.64 billion, which together make $1.71 trillion. The grouping and totals are ours, the figures are undiscounted, and the filings date from 30 June 2026.

On the supply side, our supplier piece reported that the makers of AI’s parts say they are booked for years. Jassy said of AWS capacity that “2027 is largely sold out,” Reuters reported on 23 October.

What the Post Expects

The forecasts below are Bull Theory’s, not ours, and we did not check them against a named consensus source. The post says the Fed is expected to hold rates at 3.75%-4.00%, puts Microsoft’s expected revenue at around $90.6 billion and Alphabet’s at nearly $128 billion, and puts headline PCE inflation at 3.6% and third-quarter GDP growth at around 3.2%.

It also says Japan’s policy rate, at 1.25%, is its highest in 31 years. The Bank of Japan’s statement gives the 1.25% level; the 31-year comparison is the post’s.

Connecting the Coverage

Our commitments piece of 22 October put eight companies’ commitments at about $3.56 trillion by our arithmetic, with Alphabet and Meta each near $870 billion.

Our financing piece of 24 October set the demand side, described as sold out, against the money side, where deals were renegotiated or priced wider.

Our Intel piece of 23 October reported the company’s chief technology officer saying memory, not compute, is the tighter constraint, and this week’s compact weekly set out the same split between booked suppliers and dearer money.

What is new here: the dates line up. The rate decision and the first two cloud results land on the same evening, and the GDP and inflation figures arrive the next morning, before Amazon reports.

The Structural Read

As we read it, the order matters for how the numbers arrive: the rate decision and two cloud results land on 28 October, and the Bureau of Economic Analysis publishes GDP and personal income and outlays at 8:30 a.m. on 29 October, before Amazon’s call that afternoon.

As we read it, the commitments are already on the books: Microsoft’s 10-K lists purchase commitments of $194.06 billion that it says “primarily relate to datacenters”, and Alphabet’s 10-Q lists items adding up to $871.3 billion, both as our commitments piece reported.

As we read it, the supplier side has said where it stands: Jassy said “2027 is largely sold out” for AWS capacity, Reuters reported, and Intel’s chief technology officer said the supply crunch is larger for memory than for compute.

Three Implications

FOR RATES The Fed’s rate table lists a 25 basis-point increase on 17 September 2026 to a 3.75-4.00% range.

FOR THE CLOUD RESULTS Microsoft’s release says it will publish results after the close on 28 October, with a webcast at 2:30 p.m. Pacific.

FOR JAPAN The Bank of Japan’s 18 September statement set the overnight call rate guideline at around 1.25 percent, by a 7-2 vote.

The Business Engineer Lens

This story maps onto the Business Engineer framework The AI Supercycle.

The framework puts it this way: “Layer 5 — Compute Capacity. Hyperscaler GPU clusters, neoclouds, custom-silicon estates. Where the capex bubble lives.”

As we read it, this week’s three largest reporters are hyperscalers, and their filings carry the commitments that sit on that layer. The framework does not discuss this week’s calendar.

What Is Not Established

We did not find Alphabet’s own announcement of its results date; the 28 October date is from Nasdaq’s calendar. We did not verify any of the post’s forecasts against a named consensus source. The $1.71 trillion is our sum of line items from filings dated 30 June 2026, before this week’s results. This piece makes no forecast about the results or the rate decision.

The Bottom Line

Between Wednesday and Friday, the Fed and the Bank of Japan decide on rates, the Bureau of Economic Analysis publishes GDP and PCE, and Microsoft, Alphabet, Amazon, Intel and Sandisk report, according to each organiser’s schedule. The three largest reporters carry $1.71 trillion of commitments in their latest filings, by our arithmetic.