摩根大通：云资本支出总结：强劲投资势头持续，与对经济放缓和关税影响的担忧相悖

Hardware & Networking Cloud Capex Wrap-up: Robust Investment Momentum Continues, Contrary to Concerns Around Slowdown and Tariff Impact J P M O R G A N Meta, Microsoft and Google reported strong capex growth in the Mar-Q, with the three US Cloud Service Providers (CSPs) together reporting strong double-digit growth year-over-year in aggregate (+60% y/y). Importantly, the raised full-year outlook from Meta, the reiterated fiscal 2H outlook from Microsoft, and the reiterated full-year outlook from Google impl ...