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 to see what remains after reinvestment, Net Income for the profit the asset base produces, and Long-term Debt because large infrastructure buildouts are often debt-financed.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft Corporation | Technology | $115.95B | $3724.73B |
| 2 | ORCL | Oracle Corporation | Technology | $55.66B | $449.21B |
| 3 | TSM | Taiwan Semiconductor Manufacturing Company Limited | Technology | $40.56B | $2308.71B |
| 4 | MU | Micron Technology, Inc. | Technology | $15.86B | $1179.04B |
| 5 | INTC | Intel Corporation | Technology | $14.65B | $643.74B |
| 6 | AAPL | Apple Inc. | Technology | $12.71B | $4947.14B |
| 7 | CRWV | CoreWeave, Inc. | Technology | $10.31B | $47.12B |
| 8 | NVDA | NVIDIA Corporation | Technology | $6.04B | $5490.54B |
| 9 | ASX | ASE Technology Holding Co., Ltd. | Technology | $5.25B | $113.86B |
| 10 | TXN | Texas Instruments Incorporated | Technology | $4.55B | $247.37B |
| 11 | APLD | Applied Digital Corporation | Technology | $2.87B | $8.01B |
| 12 | DELL | Dell Technologies Inc. | Technology | $2.63B | $365.79B |
| 13 | HPE | Hewlett Packard Enterprise Company | Technology | $2.29B | $80.66B |
| 14 | AMAT | Applied Materials, Inc. | Technology | $2.26B | $368.42B |
| 15 | FI | Fiserv, Inc. | Technology | $1.76B | $34.31B |
| 16 | UMC | United Microelectronics Corporation | Technology | $1.52B | $63.78B |
| 17 | CSCO | Cisco Systems, Inc. | Technology | $1.41B | $439.44B |
| 18 | QCOM | QUALCOMM Incorporated | Technology | $1.19B | $207.45B |
| 19 | COHR | Coherent Corp. | Technology | $1.10B | $62.96B |
| 20 | VNET | VNET Group, Inc. | Technology | $1.09B | $2.06B |
| 21 | IBM | International Business Machines Corporation | Technology | $1.09B | $218.51B |
| 22 | ASTS | AST SpaceMobile, Inc. | Technology | $1.06B | $18.55B |
| 23 | APH | Amphenol Corporation | Technology | $1.00B | $199.05B |
| 24 | AMD | Advanced Micro Devices, Inc. | Technology | $0.97B | $1004.82B |
| 25 | LRCX | Lam Research Corporation | Technology | $0.97B | $378.25B |
| 26 | CSIQ | Canadian Solar Inc. | Technology | $0.96B | $0.80B |
| 27 | TEL | TE Connectivity plc | Technology | $0.94B | $60.80B |
| 28 | AMKR | Amkor Technology, Inc. | Technology | $0.90B | $12.97B |
| 29 | HPQ | HP Inc. | Technology | $0.90B | $29.71B |
| 30 | FSLR | First Solar, Inc. | Technology | $0.87B | $21.48B |
| 31 | NOW | ServiceNow, Inc. | Technology | $0.87B | $142.34B |
| 32 | CORZ | Core Scientific, Inc. | Technology | $0.73B | $5.90B |
| 33 | GFS | GLOBALFOUNDRIES Inc. | Technology | $0.72B | $27.07B |
| 34 | FLEX | Flex Ltd. | Technology | $0.63B | $41.23B |
| 35 | AVGO | Broadcom Inc. | Technology | $0.62B | $1731.20B |
| 36 | KD | Kyndryl Holdings, Inc. | Technology | $0.61B | $2.66B |
| 37 | ACN | Accenture plc | Technology | $0.60B | $113.89B |
| 38 | CRM | Salesforce, Inc. | Technology | $0.59B | $194.57B |
| 39 | STX | Seagate Technology Holdings plc | Technology | $0.57B | $199.50B |
| 40 | ARM | Arm Holdings plc | Technology | $0.55B | $344.86B |
| 41 | ADI | Analog Devices, Inc. | Technology | $0.53B | $185.59B |
| 42 | AKAM | Akamai Technologies, Inc. | Technology | $0.51B | $16.87B |
| 43 | CIFR | Cipher Digital Inc. | Technology | $0.49B | $7.84B |
| 44 | JBL | Jabil Inc. | Technology | $0.47B | $31.82B |
| 45 | LITE | Lumentum Holdings Inc. | Technology | $0.45B | $85.62B |
| 46 | TSEM | Tower Semiconductor Ltd. | Technology | $0.44B | $26.43B |
| 47 | PANW | Palo Alto Networks, Inc. | Technology | $0.44B | $304.10B |
| 48 | WDC | Western Digital Corporation | Technology | $0.42B | $161.58B |
| 49 | NXPI | NXP Semiconductors N.V. | Technology | $0.40B | $58.61B |
| 50 | KLAC | KLA Corporation | Technology | $0.38B | $240.37B |
| 51 | FTNT | Fortinet, Inc. | Technology | $0.36B | $128.57B |
| 52 | MRVL | Marvell Technology, Inc. | Technology | $0.35B | $231.31B |
| 53 | ON | ON Semiconductor Corporation | Technology | $0.34B | $27.92B |
| 54 | UBER | Uber Technologies, Inc. | Technology | $0.34B | $144.69B |
| 55 | NET | Cloudflare, Inc. | Technology | $0.32B | $125.22B |
| 56 | CRWD | CrowdStrike Holdings, Inc. | Technology | $0.30B | $255.32B |
| 57 | ENTG | Entegris, Inc. | Technology | $0.30B | $21.87B |
| 58 | TTMI | TTM Technologies, Inc. | Technology | $0.29B | $13.07B |
| 59 | CTSH | Cognizant Technology Solutions Corporation | Technology | $0.29B | $26.75B |
| 60 | Q | Qnity Electronics, Inc. | Technology | $0.28B | $25.49B |
| 61 | ZS | Zscaler, Inc. | Technology | $0.28B | $33.77B |
| 62 | VSH | Vishay Intertechnology, Inc. | Technology | $0.27B | $5.00B |
| 63 | PAYC | Paycom Software, Inc. | Technology | $0.27B | $10.20B |
| 64 | GRMN | Garmin Ltd. | Technology | $0.27B | $54.06B |
| 65 | WYFI | WhiteFiber, Inc. | Technology | $0.27B | $0.77B |
| 66 | MSI | Motorola Solutions, Inc. | Technology | $0.27B | $76.35B |
| 67 | P | Everpure, Inc. | Technology | $0.26B | $37.87B |
| 68 | CLVT | Clarivate Plc | Technology | $0.26B | $1.23B |
| 69 | FN | Fabrinet | Technology | $0.25B | $14.39B |
| 70 | PAYX | Paychex, Inc. | Technology | $0.23B | $40.94B |
| 71 | CNXC | Concentrix Corporation | Technology | $0.23B | $1.68B |
| 72 | BTDR | Bitdeer Technologies Group | Technology | $0.23B | $3.57B |
| 73 | TER | Teradyne, Inc. | Technology | $0.22B | $59.65B |
| 74 | DXC | DXC Technology Company | Technology | $0.21B | $1.74B |
| 75 | CLS | Celestica Inc. | Technology | $0.20B | $43.43B |
| 76 | CPAY | Corpay, Inc. | Technology | $0.20B | $26.08B |
| 77 | OTEX | Open Text Corporation | Technology | $0.20B | $5.59B |
| 78 | NTAP | NetApp, Inc. | Technology | $0.20B | $38.92B |
| 79 | SWKS | Skyworks Solutions, Inc. | Technology | $0.20B | $13.35B |
| 80 | PLAB | Photronics, Inc. | Technology | $0.19B | $1.73B |
| 81 | AAOI | Applied Optoelectronics, Inc. | Technology | $0.18B | $9.23B |
| 82 | ADBE | Adobe Inc. | Technology | $0.18B | $99.18B |
| 83 | SNDK | Sandisk Corporation | Technology | $0.18B | $258.67B |
| 84 | INTU | Intuit Inc. | Technology | $0.17B | $81.27B |
| 85 | DQ | Daqo New Energy Corp. | Technology | $0.17B | $0.81B |
| 86 | MPWR | Monolithic Power Systems, Inc. | Technology | $0.17B | $62.79B |
| 87 | SNPS | Synopsys, Inc. | Technology | $0.17B | $77.01B |
| 88 | WIT | Wipro Limited | Technology | $0.17B | $16.52B |
| 89 | VYX | NCR Voyix Corporation | Technology | $0.17B | $1.01B |
| 90 | WDAY | Workday, Inc. | Technology | $0.16B | $46.25B |
| 91 | SMCI | Super Micro Computer, Inc. | Technology | $0.16B | $27.07B |
| 92 | XYZ | Block, Inc. | Technology | $0.16B | $46.81B |
| 93 | FIS | Fidelity National Information Services, Inc. | Technology | $0.15B | $18.79B |
| 94 | MKSI | MKS Inc. | Technology | $0.15B | $17.37B |
| 95 | SANM | Sanmina Corporation | Technology | $0.15B | $11.23B |
| 96 | SNX | TD SYNNEX Corporation | Technology | $0.14B | $22.36B |
| 97 | CDNS | Cadence Design Systems, Inc. | Technology | $0.14B | $81.21B |
| 98 | CIEN | Ciena Corporation | Technology | $0.14B | $51.90B |
| 99 | WEX | WEX Inc. | Technology | $0.14B | $6.38B |
| 100 | BDC | Belden Inc. | Technology | $0.14B | $4.32B |
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.
- Size floor: A company qualifies at $500 million in market cap or above. Below that, one mis-stated figure outranks the companies the list is about.
- Currency check: A company whose annual revenue runs above 15 times its market cap is left out, because at that gap the two figures are not in the same currency.
- Currency check: A company whose balance sheet runs above 150 times its market cap is left out for the same reason.
- 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.