Big Tech AI capex explosion: $140B (2023) → $740B (2026) → $1T+ (2027)
Pershing Square's take: This is offense, not defense. Translation? They're betting the farm on AI monetization.
The risk: If revenue doesn't materialize, expect brutal capex cuts. We're talking about the biggest infrastructure bet in tech history.
Watch the hyperscalers closely. If $MSFT $GOOGL $AMZN $META start trimming spend, it's a red flag for the entire AI narrative. GPU demand, cloud growth, even crypto AI plays could get wrecked.
Right now it's full degen mode on AI infrastructure. Question is: who's left holding the bag if returns don't show up?
Pershing Square's take: This is offense, not defense. Translation? They're betting the farm on AI monetization.
The risk: If revenue doesn't materialize, expect brutal capex cuts. We're talking about the biggest infrastructure bet in tech history.
Watch the hyperscalers closely. If $MSFT $GOOGL $AMZN $META start trimming spend, it's a red flag for the entire AI narrative. GPU demand, cloud growth, even crypto AI plays could get wrecked.
Right now it's full degen mode on AI infrastructure. Question is: who's left holding the bag if returns don't show up?
