Bernstein’s mid-year CIO survey (Cloud spending to rise, no expectation AI to replace enterprise software)

If you're a Microsoft, Amazon or Alphabet stock investor there's some very encouraging results from Bernstein’s mid-year CIO survey, before the latest quarter results reporting in the next few weeks from these companies. \* strong IT budget growth in 2026, with growth similar to 2025 and rivaling the strength seen during the COVID-era rebound in 2021 \* CIOs do not expect to increase spending on LLM vendors such as OpenAI and Anthropic, \* Cloud adoption continues to rise, Microsoft Azure remains the clear leader among cloud providers, while Google Cloud continues gaining share. \* most CIOs do not expect AI to replace enterprise software \* U.S.-based CIOs anticipate weaker second-half spending after a very strong first half source: [https://www.streetinsider.com/dr/news.php?id=26772109](https://www.streetinsider.com/dr/news.php?id=26772109) and [https://finance.yahoo.com/technology/articles/bernstein-mid-cio-survey-calls-135437934.html](https://finance.yahoo.com/technology/articles/bernstein-mid-cio-survey-calls-135437934.html)