Elon Musk has floated an eye‑catching goal: ramp solar manufacturing to around 100 gigawatts per year, roughly twice today’s total US solar installations, with the aim of powering data centers on Earth and in space. The big idea is that AI will be constrained less by chips and more by electricity, so owning a huge,…
The largest cloud and internet platforms—often called hyperscalers—are now the main builders of AI infrastructure. Companies like Amazon, Microsoft, Alphabet (Google), Meta, and their key suppliers are committing extraordinary amounts of capital to keep up with demand for AI training and inference. Estimates suggest hyperscaler capex could push toward 600 billion dollars annually by 2026,…
[image of S&P 500 capex and S&P 500 capex yoy% growth] For years, investors obsessed over buybacks and dividends. Now a different line on the cash‑flow statement is stealing the spotlight: capital expenditure. AI is turning S&P 500 capex into a full‑blown super‑cycle. Big Tech is leading the charge. Estimates suggest that the largest AI and…