Hyperscalers aren't slowing capex — and they shouldn't. IRR is improving monthly while funding markets stress out. The math says keep building.
Wall Street keeps asking "when will they pull back?" but the data screams the opposite. Every incremental dollar into AI infrastructure is generating better returns than the last. That's not a bubble signal, that's a green light.
Funding stress? Sure. But hyperscaler balance sheets can handle it. When your ROI curve is steepening and competitors are racing to scale, pulling back is how you lose. The execs get it — march on.
Wall Street keeps asking "when will they pull back?" but the data screams the opposite. Every incremental dollar into AI infrastructure is generating better returns than the last. That's not a bubble signal, that's a green light.
Funding stress? Sure. But hyperscaler balance sheets can handle it. When your ROI curve is steepening and competitors are racing to scale, pulling back is how you lose. The execs get it — march on.