Mag 7 AI Arms Race: Heavy Capex, FCF Strain and One Clear Winner

Key Takeaways AMZN, GOOGL, MSFT and META ramp AI capex, pressuring margins and free cash flow.AAPL stays disciplined, while TSLA raises AI spending amid slowing EV demand.NVDA stands out as the main beneficiary of the Mag 7 AI buildout.For the past few years, artificial intelligence (AI) has been one of the hottest themes in the stock market. Investors rewarded companies that talked boldly about AI ambition, data leadership, cloud scale and long-term disruption. But this earnings season, more than the headl ...