Technology
Alphabet's pursuit of external capital for a $190bn capex programme and Amazon engineers' revolt over $200bn data-centre spending reveal that AI infrastructure commitments have structurally outrun normal capital-allocation discipline.
Preview briefAlphabet's pursuit of external capital for a $190bn capex programme and Amazon engineers' revolt over $200bn data-centre spending reveal that AI infrastructure commitments have structurally outrun normal capital-allocation discipline.
Preview briefAnthropic's $1.25B/month SpaceX compute contract, surfaced in IPO filings, reveals that frontier AI training spend has outgrown hyperscaler capacity and economics, forcing model developers to source compute through entirely new channels.
Preview briefThe AI infrastructure supply chain is entering a supplier-diversification phase: Intel's credible re-entry into AI silicon, set against Dell's $51.3B server backlog, gives hyperscalers and enterprises both the motivation and optionality to reduce Nvidia concentration risk.
Preview briefSoftBank's €75B French AI facility commitment and Hong Kong's proposed offshore yuan VC fund together mark the emergence of a non-US, non-dollar capital formation layer for AI infrastructure.
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