Analysis: the combined free cash flow of Amazon, Alphabet, Microsoft, and Meta is expected to fall to ~$4B in Q3 and hit its lowest full-year level since 2014 (Financial Times)

Financial Times: Analysis: the combined free cash flow of Amazon, Alphabet, Microsoft, and Meta is expected to fall to ~$4B in Q3 and hit its lowest full-year level since 2014 — Silicon Valley giants have transformed from asset-light cash machines to huge infrastructure investors