Compute-to-Labor Ratio
This chart compares the scale of hyperscaler capital spending with the total compensation paid to U.S. workers. It combines SEC filings for Amazon, Microsoft, Alphabet, Meta, and Oracle with BEA compensation data; the ratio is a scale comparison, not a claim that machines directly replace the measured payroll.
What does it show?
Hyperscaler investment in computing infrastructure is growing much faster than the total compensation paid to U.S. workers.
Methodology
Sum of quarterly capital expenditure for Amazon, Microsoft, Alphabet, Meta, and Oracle (SEC filings), using only quarters reported by all five companies. The sum is annualized (multiplied by four) and divided by U.S. compensation of employees (BEA series COE, current dollars at a seasonally adjusted annual rate). The capex chart's Total display line is excluded from the calculation.