Capital Expenditure - Amazon, Microsoft, Alphabet, and Meta collectively invested nearly $300 billion in capital expenditures over the past year [1] - The substantial capital expenditure reflects a strong commitment to the AI race among hyperscalers [1] Industry Trend - Hyperscalers are determined to remain competitive in the AI sector [1]

AI Investment & GDP Impact - Barclay's research indicates AI-related spending boosted US GDP growth by approximately 1 percentage point in the first half of 2025 [1] - The contribution of AI spending to GDP is projected to peak in 2025 and then decline rapidly [2] Capital Expenditure Trends - The five largest hyperscalers are projected to increase capital expenditures by roughly 30% through 2027, reaching $510 billion [2] - This 30% increase represents a major deceleration compared to the 71% jump observed in 2025; the slowdown is even more pronounced when adjusted for inflation [2] Market Overestimation & Productivity - Barclays argues that the market is overestimating the aggregate impact of AI investment, as total US business investment exceeds $4 trillion annually [3] - Achieving a sustained 1 percentage point increase in productivity growth would require a roughly 20% increase in the entire trajectory of business investment [4] - Such sustained spending levels were last observed during the 1990s dot-com boom [4] Key Takeaway - While AI spending levels are impressive, GDP growth is driven by growth rates, which are currently decelerating [4]

Investment Plan - PG&E Corp 计划到 2030 年投资 730 亿美元的资本支出 [1]

Learn how capital expenditures (CapEx) can impact business investments and growth. Discover the formula to calculate CapEx, see industry-specific examples, and understand how CapEx differs from operating expenses. https://t.co/DVCjyRQ836 ...

Core Viewpoint - Centerra Gold Inc. announced a Pre-Feasibility Study (PFS) for its Mount Milligan mine, confirming a life of mine (LOM) extension to 2045, driven by strategic investments and exploration efforts [2][3]. Production and Economics - The PFS indicates a 10-year LOM extension, with average annual production from 2026 to 2042 expected to be approximately 150,000 ounces of gold and 69 million pounds of copper [6][8]. - Total gold production over the mine life is projected at 2.791 million ounces, while total copper production is estimated at 1.282 billion pounds [5][6]. - The after-tax NPV (5%) is approximately $1.5 billion based on long-term price assumptions of $2,600 per ounce of gold and $4.30 per pound of copper, increasing to about $2.1 billion at spot prices of $3,500 per ounce of gold and $4.50 per pound of copper [6][45]. Capital Expenditures - Total capital expenditures over the LOM are estimated at $925 million, with non-sustaining capital expenditures of $186 million planned, primarily for a second tailings storage facility (TSF) and process plant upgrades [5][21]. - Key investments include $114 million for the second TSF, $36 million for process plant upgrades, and $28 million for fleet additions [21][24]. Mineral Reserves and Resources - An updated proven and probable mineral reserve totals 483.2 million tonnes, with an average grade of 0.28 grams per tonne gold and 0.16% copper, containing 4.4 million ounces of gold and 1.7 billion pounds of copper [27][29]. - This represents a 56% increase in gold reserves and a 52% increase in copper reserves compared to the end of 2024, driven by resource conversion and infill drilling [6][27]. Exploration Potential - Recent drilling confirms mineralization continues to the west of the current resource pit, with ongoing exploration aimed at expanding mineral resources and potentially extending mine life beyond the updated plan [3][32]. - The company plans to continue drilling to upgrade resources both near surface and at depth, focusing on areas to the west and southwest of the Mount Milligan reserve pit [41]. Permitting and Community Relations - Mount Milligan has been designated as a provincial priority project by the British Columbia government, which supports a more streamlined permitting process [42]. - The extended LOM is expected to provide consistent employment for over 1,000 workers and increase business opportunities for First Nations and surrounding communities [44].

Investment & Expenditure - Alphabet 计划增加 100 亿美元（$10 billion）的资本支出 [1] Business Growth - 增加资本支出旨在满足 Google Cloud 的激增需求 [1]

Investment Plan - Tesla plans to invest over $11 billion annually in capital expenditures for the next three years [1] Expansion Focus - The investment will boost Gigafactory expansion [1] - The investment will boost battery production [1] - The investment will boost AI and autonomy [1] - The investment will boost the Supercharger network [1]

Financial Data and Key Metrics Changes - The company reported first quarter adjusted EBITDA of $57.5 million and capital expenditures of $20.6 million, with the majority of CapEx spent in the Rockies and Mid Con segments [13] - Net debt stood at approximately $959 million, with available borrowing capacity totaling approximately $354 million at the end of the first quarter [13] Business Line Data and Key Metrics Changes - The Rockies segment generated adjusted EBITDA of $24.9 million, an increase of $1.6 million from the fourth quarter, primarily due to an 8.8% increase in liquids volume throughput [13] - The Mid Con segment reported adjusted EBITDA of $22.5 million, an increase of $9.6 million relative to the fourth quarter, primarily due to the acquisition of Tall Oak and an increase in volume throughput [16] - The Permian Basin segment reported adjusted EBITDA of $8.3 million, an increase of $0.5 million relative to the fourth quarter, due to higher volume throughput on the Double E pipeline [15] Market Data and Key Metrics Changes - In the Rockies segment, 30 new wells were connected during the first quarter, including 22 in the DJ Basin and 8 in the Williston Basin [8] - Average daily volumes on the Double E pipeline grew by 8% quarter over quarter, averaging close to 700 million cubic feet per day [11] Company Strategy and Development Direction - The company remains focused on executing strategic objectives and maintaining a strong balance sheet to navigate the current macroeconomic environment [6] - The acquisition of Moonrise Midstream is expected to expand the company's footprint in the DJ Basin and provide additional operating synergies [7] Management's Comments on Operating Environment and Future Outlook - Management noted a significant reduction in crude oil prices, which may dampen activity levels in the second half of the year, particularly in the crude-oriented Rockies segment [7] - The outlook for natural gas remains strong, which could mitigate potential downside exposure associated with the crude segment [7] Other Important Information - The Board of Directors reinstated the cash dividend on the Series A preferred stock, marking a step towards reinstating the common dividend in the future [7] - The company connected 41 wells during the first quarter, maintaining an active customer base with six active drilling rigs [7] Q&A Session Summary Question: What is the outlook for the second half of the year regarding completion schedules? - Management indicated that customers expect second half completion schedules to largely remain intact despite potential slippage if crude prices weaken further [9] Question: How is the company addressing the current crude price environment? - The company is in close communication with its customer base to evaluate the implications of the current crude price environment on well completion activities [9]

Core Insights - John Mackey, former CEO of Whole Foods Market, is on The Motley Fool's board of directors [1] - Suzanne Frey, an executive at Alphabet, is also a member of The Motley Fool's board [1] - Randi Zuckerberg, former Facebook market development director and sister to Meta Platforms CEO, is part of The Motley Fool's board [1] - Parkev Tatevosian, CFA, holds positions in Alphabet and Nvidia [1] - The Motley Fool has investment positions in and recommends Alphabet, Amazon, Meta Platforms, Microsoft, and Nvidia [1] - The Motley Fool suggests long January 2026 $395 calls and short January 2026 $405 calls on Microsoft [1] Company and Industry Summary - Whole Foods Market is an Amazon subsidiary, indicating a strategic alignment with Amazon's broader retail and grocery initiatives [1] - Alphabet, as a major player in technology, has executives involved in investment advisory roles, reflecting its influence in the investment community [1] - Meta Platforms continues to have significant representation in investment discussions through Randi Zuckerberg, highlighting the ongoing relevance of social media companies in investment strategies [1] - The presence of CFA Parkev Tatevosian in Alphabet and Nvidia suggests a focus on technology and innovation sectors, which are critical for future growth [1] - The Motley Fool's recommendations for major tech companies indicate a bullish outlook on the technology sector, particularly on Microsoft, which is actively being traded through options strategies [1]

Financial Performance - Total revenue for Q1 2025 reached $42314 million[8], compared to $36455 million in Q1 2024, representing a year-over-year increase[8] - Advertising revenue for Q1 2025 was $41392 million[4], up from $35635 million in Q1 2024[11] - Family of Apps (FoA) revenue in Q1 2025 amounted to $41902 million[11] - Reality Labs (RL) revenue reached $412 million in Q1 2025[11] - The company's operating margin was 41% in Q1 2025[11] - Net income for Q1 2025 was $12369 million[19] - Capital expenditures for Q1 2025 totaled $6715 million[27] User Engagement - Family Daily Active People (DAP) reached 343 billion in Q1 2025[33] - Family Average Revenue per Person (ARPP) was $1120 in Q1 2025[38] Advertising Metrics - Ad impressions delivered worldwide increased by 12% year-over-year in Q1 2025[44] - The average price per ad worldwide increased by 3% year-over-year in Q1 2025[49]