Data-center revenue ~$72.8bn; Vera Rubin ramps to full production by fall; guidance assumes zero China data-center compute, and the stock still slid
Hyperscaler capex
tracked under AI ▸ AI data centers
Amazon ~$200bn, Microsoft ~$190bn, Alphabet $175–185bn, Meta $125–145bn, a combined AI buildout larger than most national budgets, with component inflation now a line item
Nvidia invests in OpenAI; OpenAI commits to Oracle clouds; Oracle buys Nvidia chips, a self-referential money wheel as Oracle/Microsoft CDS spreads roughly double
Two Fairwater sites stitched by a dedicated AI wide-area network train one model in tandem, hundreds of thousands of Nvidia GB200/GB300 GPUs, 140kW racks, no UPS or gen-sets
Indiana's $11bn AWS megacampus runs ~500,000 Trainium2 chips for Anthropic; the partners now target up to 5GW, with Amazon guiding to ~$200bn capex in 2026