Hyperscaler CapEx is going vertical. Alphabet is guiding $175 to $185 billion in 2026 CapEx, Amazon roughly $200 billion and Meta $125 to $145 billion. That is the setup billionaire Chase Coleman positioned Tiger Global around in the fund’s latest 13F (holdings as of March 31, filed on May 15): five mega-cap names sitting directly on top of the AI infrastructure supercycle.
Here is how each of them looks as a buy right now.
1. Taiwan Semiconductor Manufacturing (The Surprise Pick)
Every dollar of GPU CapEx eventually funnels through one fab. Taiwan Semiconductor Manufacturing (NYSE:TSM | TSM Price Prediction) prints the silicon that NVIDIA, Amazon, Google and Meta all depend on, which makes it the least optional name in Coleman’s book. It is the picks-and-shovels play sitting behind every other stock on this list.
The Q2 2026 report on July 16, made the case in one line: EPS of $4.31 versus $3.89 estimate, a 10.89% beat, on $40.20 billion in revenue up 36.0% YoY. Advanced nodes (7nm and below) now drive 77% of wafer revenue, and the 2nm node just debuted at 3% of wafer revenue in its first quarter of commercial ramp. Management then guided full-year 2026 revenue growth slightly above 40% in US dollars, an upgrade from the roughly 30% outlook given in January.
The kicker: Shares are up 26.31% year to date, and our model still tags TSM a BUY with a $489.17 base-case target, 23.32% upside and 89% bullish analyst consensus with zero Sell ratings. If TSM is the plumbing, the next name is the fixture everyone actually pays up for.
2. NVIDIA (The Heavyweight)
Coleman’s second bet is the one nobody needs an introduction to. NVIDIA (NASDAQ:NVDA) is the customer TSMC just referenced, the chip inside every hyperscaler AI factory, and at a $4.90 trillion market cap it is now the largest single equity exposure in the AI trade. When Jensen Huang says “The buildout of AI factories, the largest infrastructure expansion in human history, is accelerating at extraordinary speed,” Tiger Global is on the receiving end of that sentence.
The Q1 FY27 report filed May 20, 2026 showed why: non-GAAP EPS of $1.87 versus $1.7738 estimate, revenue of $81.61 billion up 85.2% YoY, and Data Center revenue of $75.246 billion, up 92% YoY, with Networking alone up 199%. Q2 revenue is guided to $91 billion, and NVIDIA disclosed $119.0 billion in total supply commitments, a number that only makes sense if the next several quarters of orders are already spoken for.
The stock is up 3.49% YTD and our model prints a $259.81 base-case target, 28.45% upside, backed by 95% bullish analyst sentiment and 48 Buy ratings against just one Sell rating. But the AI story is not only about who sells the chips. The next name in Coleman’s book is who buys them by the gigawatt.
3. Amazon (The Cloud Giant)
Amazon (NASDAQ:AMZN) is the customer swallowing GPUs faster than TSMC can make them, and it is quietly turning its own chip business into a threat to NVIDIA itself. OpenAI committed roughly 2 GW of Trainium capacity through AWS starting 2027, and Anthropic committed up to 5 GW. That is a power-grid-scale commitment.
Q1 2026 delivered EPS of $2.78 versus $1.73 estimate, a 60.69% beat, on $181.52 billion in revenue up 16.6% YoY. AWS revenue hit $37.59 billion, up 28%, the fastest AWS growth in 15 quarters, with AWS operating margin at 37.7%. Amazon’s in-house chips business (Graviton, Trainium, Nitro) has crossed a $20 billion revenue run rate with triple-digit YoY growth, and 2026 capex is planned at roughly $200 billion.
Shares are up 18.43% YTD, and our model rates AMZN a BUY with a $324.47 base-case target, 31.18% upside, and 94% bullish analyst consensus. From here the list gets more interesting: The next stock spends almost as much on AI as Amazon does, but also has to defend an ad empire while doing it.
4. Meta Platforms (The Ad/AI Powerhouse)
Meta (NASDAQ:META) is where the AI CapEx story collides head-on with cash-flow reality. Zuckerberg raised 2026 capex guidance to $125 to $145 billion from $115 to $135 billion, launched Meta Superintelligence Labs, and released its first MSL model. His pitch to shareholders: “We’re on track to deliver personal superintelligence to billions of people.”
The ad engine is already funding it. Q1 2026 posted EPS of $10.44 versus $6.66 estimate, a 56.79% beat, on $56.31 billion in revenue up 33.1% YoY. Ad impressions rose 19% YoY and average price per ad rose 12%, with Family DAP hitting 3.56 billion. Reality Labs still bled $4.03 billion in Q1 operating losses, and that is the price of admission investors are being asked to accept.
Shares are down 16.65% YTD after a selloff followed its recent earnings call, but prediction sentiment has swung bullish at a composite score of 62.61, up 18.74 points over 30 days. Our model rates META a BUY with a $913.36 base-case target, 42.25% upside, and 90% bullish analyst consensus on a forward P/E of 19. The upside here is real. But the biggest number in this article is still coming.
5. Alphabet (The Payoff)
The punchline of Coleman’s book is Alphabet (NASDAQ:GOOGL), and it lands because Alphabet is the only name that owns the chip (TPU), the cloud, the model (Gemini), the distribution (Search, YouTube, Android), and an autonomy business already generating revenue. Sundar Pichai told investors: “Google Cloud revenues grew 63% with backlog nearly doubling quarter on quarter to over $460 billion.” A $460 billion backlog is a scheduling problem.
Q1 2026 detonated the consensus model: EPS of $5.11 versus $2.63 estimate, a 94.10% beat, on $109.90 billion in revenue up 21.8% YoY. Google Cloud revenue hit $20.03 billion, up 63% YoY, operating income rose 30% to $39.70 billion at a 36.1% margin, and Q1 capex alone was $35.67 billion, more than double YoY. Waymo is now doing 500,000+ fully autonomous rides per week.
Shares are up 10.7% YTD and 81.8% over the past year. Our model rates GOOGL a BUY with a $448.38 base-case target, 29.99% upside, 89% bullish analyst consensus, and a forward P/E of 26. In a portfolio of five AI infrastructure winners, this is the one paying you to hold it.
The Bottom Line
Coleman’s five picks are a single, concentrated wager that AI capex keeps compounding through 2026 and beyond. Every one of them screens as a BUY in our model, with base-case upside ranging from 23% to 42% over the next 12 months, and analyst bullish consensus at 89% or higher across the board. The capex is already committed. The chips are already ordered. The window to size these positions before the next earnings cycle is measured in weeks.
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