AI spending squeezes Big Tech buybacks as only Microsoft repurchases shares in Q1

Big Tech stock buybacks are falling as companies prioritize spending on artificial intelligence, shifting from capital-light approaches to more capital-intensive strategies. Among Alphabet, Microsoft, Meta and Amazon, only Microsoft repurchased shares in the first quarter. Microsoft’s $3.4 billion buyback was the smallest total within the group in nearly a decade, according to data compiled by Bloomberg.