Alphabet (Google), Microsoft, and Amazon, the three tech giants, are scheduled to release their earnings reports this week. The market is closely watching their AI capital expenditure scale and free cash flow trends, especially after Meta's earnings report last week showed its free cash flow turned negative for the first time, reaching -$2.12 billion, following an upward revision of its capital expenditure plan. Its stock price subsequently plunged 6.1% the next day. Analysts point out that investors have "lost patience" with high AI spending, and the three giants' earnings reports this week are expected to face a severe test.