Biggest CapEx Technology Stocks
Top technology companies ranked by capital expenditures, latest annual filings.
What Capital Expenditures Mean for Technology Companies
Capital expenditures in technology split into two distinct profiles. Most software firms are capex-light, spending modestly on office equipment and internal systems because their product is code. Cloud hyperscalers and AI infrastructure operators, by contrast, run some of the largest capex programs in the market, pouring cash into data centers, custom silicon, and power. The sector average hides this bimodal distribution more than it reveals it.
Why It Matters Less in Technology
For traditional software, low capex is the point: operating leverage compounds as capex stays flat against growing revenue. For infrastructure-scale firms, capex is a direct bet on capacity winning future demand, and returns depend on whether that demand materializes at the prices built into the plan. Neither model is inherently superior; they describe fundamentally different businesses that happen to share a sector label.
What to Read Alongside
Pair capex with [Free Cash Flow](/financials/top-free-cash-flow-stocks/technology/) to see what remains after reinvestment, [Net Income](/financials/top-net-income-stocks/technology/) for the profit the asset base produces, and [Long-term Debt](/financials/most-indebted-stocks/technology/) because large infrastructure buildouts are often debt-financed.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft Corporation | Technology | $64.55B | $3139.48B |
| 2 | TSM | Taiwan Semiconductor Manufacturing Company Limited | Technology | $40.56B | $1921.56B |
| 3 | ORCL | Oracle Corporation | Technology | $21.21B | $503.48B |
| 4 | MU | Micron Technology, Inc. | Technology | $15.86B | $513.20B |
| 5 | INTC | Intel Corporation | Technology | $14.65B | $343.94B |
| 6 | AAPL | Apple Inc. | Technology | $12.71B | $3967.28B |
| 7 | CRWV | CoreWeave, Inc. | Technology | $10.31B | $62.50B |
| 8 | NVDA | NVIDIA Corporation | Technology | $6.04B | $4900.82B |
| 9 | ASX | ASE Technology Holding Co., Ltd. | Technology | $5.25B | $62.62B |
| 10 | TXN | Texas Instruments Incorporated | Technology | $4.55B | $209.24B |
| 11 | UMC | United Microelectronics Corporation | Technology | $2.70B | $29.33B |
| 12 | DELL | Dell Technologies Inc. | Technology | $2.63B | $126.92B |
| 13 | HPE | Hewlett Packard Enterprise Company | Technology | $2.29B | $35.08B |
| 14 | AMAT | Applied Materials, Inc. | Technology | $2.26B | $315.02B |
| 15 | FI | Fiserv, Inc. | Technology | $1.76B | $34.31B |
| 16 | WOLF | Wolfspeed, Inc. | Technology | $1.27B | $1.24B |
| 17 | JKS | JinkoSolar Holding Co., Ltd. | Technology | $1.25B | $1.10B |
| 18 | QCOM | QUALCOMM Incorporated | Technology | $1.19B | $145.33B |
| 19 | DQ | Daqo New Energy Corp. | Technology | $1.11B | $1.47B |
| 20 | VNET | VNET Group, Inc. | Technology | $1.09B | $2.67B |
| 21 | IBM | International Business Machines Corporation | Technology | $1.09B | $237.86B |
| 22 | ASTS | AST SpaceMobile, Inc. | Technology | $1.06B | $25.03B |
| 23 | APH | Amphenol Corporation | Technology | $1.00B | $185.72B |
| 24 | AMD | Advanced Micro Devices, Inc. | Technology | $0.97B | $453.87B |
| 25 | CSIQ | Canadian Solar Inc. | Technology | $0.96B | $0.90B |
| 26 | TEL | TE Connectivity plc | Technology | $0.94B | $72.23B |
| 27 | CSCO | Cisco Systems, Inc. | Technology | $0.91B | $340.68B |
| 28 | AMKR | Amkor Technology, Inc. | Technology | $0.90B | $16.70B |
| 29 | HPQ | HP Inc. | Technology | $0.90B | $18.18B |
| 30 | FSLR | First Solar, Inc. | Technology | $0.87B | $20.46B |
| 31 | NOW | ServiceNow, Inc. | Technology | $0.87B | $100.15B |
| 32 | LRCX | Lam Research Corporation | Technology | $0.76B | $334.17B |
| 33 | CORZ | Core Scientific, Inc. | Technology | $0.73B | $6.26B |
| 34 | GFS | GLOBALFOUNDRIES Inc. | Technology | $0.72B | $30.06B |
| 35 | APLD | Applied Digital Corporation | Technology | $0.68B | $9.01B |
| 36 | AVGO | Broadcom Inc. | Technology | $0.62B | $1924.83B |
| 37 | KD | Kyndryl Holdings, Inc. | Technology | $0.60B | $3.25B |
| 38 | ACN | Accenture plc | Technology | $0.60B | $121.35B |
| 39 | CRM | Salesforce, Inc. | Technology | $0.59B | $149.00B |
| 40 | ADI | Analog Devices, Inc. | Technology | $0.53B | $181.34B |
| 41 | AKAM | Akamai Technologies, Inc. | Technology | $0.51B | $14.12B |
| 42 | CIFR | Cipher Digital Inc. | Technology | $0.49B | $7.85B |
| 43 | JBL | Jabil Inc. | Technology | $0.47B | $33.94B |
| 44 | TSEM | Tower Semiconductor Ltd. | Technology | $0.44B | $25.55B |
| 45 | COHR | Coherent Corp. | Technology | $0.44B | $64.68B |
| 46 | FLEX | Flex Ltd. | Technology | $0.44B | $30.09B |
| 47 | WDC | Western Digital Corporation | Technology | $0.41B | $126.30B |
| 48 | NXPI | NXP Semiconductors N.V. | Technology | $0.40B | $54.59B |
| 49 | FTNT | Fortinet, Inc. | Technology | $0.36B | $60.56B |
| 50 | MRVL | Marvell Technology, Inc. | Technology | $0.35B | $122.15B |
| 51 | ON | ON Semiconductor Corporation | Technology | $0.34B | $32.65B |
| 52 | UBER | Uber Technologies, Inc. | Technology | $0.34B | $157.08B |
| 53 | KLAC | KLA Corporation | Technology | $0.34B | $234.82B |
| 54 | NET | Cloudflare, Inc. | Technology | $0.32B | $70.74B |
| 55 | CRWD | CrowdStrike Holdings, Inc. | Technology | $0.30B | $107.52B |
| 56 | ENTG | Entegris, Inc. | Technology | $0.30B | $22.24B |
| 57 | TTMI | TTM Technologies, Inc. | Technology | $0.29B | $13.11B |
| 58 | CTSH | Cognizant Technology Solutions Corporation | Technology | $0.29B | $29.32B |
| 59 | Q | Qnity Electronics, Inc. | Technology | $0.28B | $28.54B |
| 60 | VSH | Vishay Intertechnology, Inc. | Technology | $0.27B | $3.53B |
| 61 | PAYC | Paycom Software, Inc. | Technology | $0.27B | $6.05B |
| 62 | GRMN | Garmin Ltd. | Technology | $0.27B | $51.47B |
| 63 | WYFI | WhiteFiber, Inc. | Technology | $0.27B | $0.63B |
| 64 | MSI | Motorola Solutions, Inc. | Technology | $0.27B | $73.46B |
| 65 | STX | Seagate Technology Holdings plc | Technology | $0.27B | $122.71B |
| 66 | PSTG | Everpure, Inc. | Technology | $0.26B | $22.41B |
| 67 | CLVT | Clarivate Plc | Technology | $0.26B | $1.72B |
| 68 | DXC | DXC Technology Company | Technology | $0.25B | $2.20B |
| 69 | PANW | Palo Alto Networks, Inc. | Technology | $0.25B | $136.13B |
| 70 | CNXC | Concentrix Corporation | Technology | $0.23B | $1.83B |
| 71 | LITE | Lumentum Holdings Inc. | Technology | $0.23B | $63.84B |
| 72 | TER | Teradyne, Inc. | Technology | $0.22B | $59.55B |
| 73 | ARM | Arm Holdings plc | Technology | $0.22B | $177.07B |
| 74 | SNDK | Sandisk Corporation | Technology | $0.20B | $135.94B |
| 75 | CLS | Celestica Inc. | Technology | $0.20B | $45.53B |
| 76 | CPAY | Corpay, Inc. | Technology | $0.20B | $22.13B |
| 77 | SWKS | Skyworks Solutions, Inc. | Technology | $0.20B | $8.87B |
| 78 | PAYX | Paychex, Inc. | Technology | $0.19B | $32.95B |
| 79 | PLAB | Photronics, Inc. | Technology | $0.19B | $2.85B |
| 80 | AAOI | Applied Optoelectronics, Inc. | Technology | $0.18B | $12.38B |
| 81 | ADBE | Adobe Inc. | Technology | $0.18B | $98.81B |
| 82 | WIT | Wipro Limited | Technology | $0.17B | $22.94B |
| 83 | MPWR | Monolithic Power Systems, Inc. | Technology | $0.17B | $72.12B |
| 84 | SNPS | Synopsys, Inc. | Technology | $0.17B | $86.12B |
| 85 | NTAP | NetApp, Inc. | Technology | $0.17B | $20.63B |
| 86 | VYX | NCR Voyix Corporation | Technology | $0.17B | $0.95B |
| 87 | ZS | Zscaler, Inc. | Technology | $0.16B | $21.66B |
| 88 | WDAY | Workday, Inc. | Technology | $0.16B | $31.83B |
| 89 | XYZ | Block, Inc. | Technology | $0.16B | $42.69B |
| 90 | FIS | Fidelity National Information Services, Inc. | Technology | $0.15B | $24.95B |
| 91 | MKSI | MKS Inc. | Technology | $0.15B | $18.76B |
| 92 | AVT | Avnet, Inc. | Technology | $0.15B | $6.05B |
| 93 | SANM | Sanmina Corporation | Technology | $0.15B | $9.51B |
| 94 | OTEX | Open Text Corporation | Technology | $0.14B | $5.88B |
| 95 | SNX | TD SYNNEX Corporation | Technology | $0.14B | $17.23B |
| 96 | CDNS | Cadence Design Systems, Inc. | Technology | $0.14B | $85.87B |
| 97 | CIEN | Ciena Corporation | Technology | $0.14B | $71.75B |
| 98 | WEX | WEX Inc. | Technology | $0.14B | $5.95B |
| 99 | QRVO | Qorvo, Inc. | Technology | $0.14B | $7.59B |
| 100 | BDC | Belden Inc. | Technology | $0.14B | $5.10B |
No companies match this search.
How this ranking is built
Companies are ranked by capital expenditures as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.