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Cash piled up. Margins expanded. And excess capital flowed back to shareholders through aggressive buybacks and steadily rising dividends. U.S. hyperscalers became machines of financial efficiency — generating enormous free cash flow while keeping capital intensity relatively contained.That era is ending.According to Goldman Sachs analysts Ben Snider and Ryan Hammond, Wall Street consensus estimates now project hyperscaler capital expenditures will reach $667 billion in 2026 — up $127 billion since the star ...

Group 1: Citigroup's Strategic Focus - Citigroup has formed a dedicated team to enhance its advisory and lending services for investors and companies involved in the development of data centers and AI infrastructure [1][3] - The bank estimates that the capital required for this infrastructure build-out will reach $3 trillion by 2030 [2] Group 2: AI Infrastructure Spending Trends - Citigroup projected that AI infrastructure spending by major technology companies will exceed $2.8 trillion through 2029, an increase from its previous estimate of $2.3 trillion [4] - Big Tech companies are increasingly borrowing to fund their AI infrastructure due to high costs, rather than relying solely on profits [8] Group 3: Major Investments by Tech Companies - Amazon plans to invest $12 billion in data center campuses in Louisiana and has committed at least $11 billion in Georgia and $20 billion in Pennsylvania for similar infrastructure [9] - OpenAI indicated that its compute costs could reach $600 billion by the end of the decade, having previously announced $1.4 trillion in infrastructure commitments [9] - Alphabet announced plans for capital expenditures between $175 billion and $185 billion in 2026 to meet ongoing demand for AI computing [10] - Meta expects its capital expenditures in 2026 to be between $115 billion and $135 billion, significantly higher than the $72 billion spent the previous year, with a focus on data centers and computing infrastructure for AI [11]

Core Insights - The analyst has over a decade of experience researching various industries, including commodities like oil, natural gas, gold, and copper, as well as technology companies such as Google and Nokia, and emerging market stocks [1] Group 1: Company Focus - The analyst has transitioned from writing a blog to creating a value investing-focused YouTube channel, where extensive research on hundreds of companies has been conducted [1] - The preferred focus of the analyst includes metals and mining stocks, but there is also comfort in analyzing other sectors such as consumer discretionary/staples, REITs, and utilities [1]

Key TakeawaysRBA Governor Michele Bullock emphasized the need for "patience" in assessing monetary policy after raising the cash rate to 3.85% to combat persistent inflation.The USD/JPY pair surged 0.32% to reach a fresh two-week peak of 156.45, reflecting continued divergence in global interest rate expectations.German Chancellor Friedrich Merz arrived in Beijing for high-stakes talks with President Xi Jinping, focusing on trade relations and the impact of new US tariffs.Russian authorities imposed a new f ...

A short-lived rebound in stocks petered out as fears about the disruptive impact of artificial intelligence continued to unsettle markets.That's after tech, delivery and payment shares slid following a Citrini Research report outlining potential AI risks across industries. The weakness was compounded by lingering uncertainty over President Donald Trump's tariffs. Erik Wytenus is Head of EMEA Investment Strategy at JPMorgan Private Bank joins Stephen Carroll and Caroline Hepker to discuss. ...

Strategy has purchased another $40 million of Bitcoin, the firm announced Monday. It now holds $55 billion of the top crypto at an average cost of $76,020 per coin and, with Bitcoin’s current price of $63,000, Strategy sits on nearly $10 billion in unrealised losses. But despite the precarious position, Strategy’s executive chairman Michael Saylor brushed off concerns during an interview with crypto podcaster Natalie Brunell on Monday. “You can think of us as dollar cost averaging,” Saylor said. The d ...

The Dow Jones Industrial Average (^DJI) was down 821.91 (-1.66%) points today, closing at 48,804.06, while Dow Futures (YM=F) fell 857.00 (-1.73%) to 48,817.00. The main narrative driving the market was a sudden 15% blanket tariff announcement, which reignited trade war fears and global economic uncertainty. This policy shift, combined with hawkish Federal Reserve commentary suggesting a "coin flip" for future rate cuts, triggered a massive rotation out of cyclical and growth sectors into defensive assets.F ...

Some of the highest-paid tech workers now will never have to write a line of code. And it’s not because their work is being done by AI: Tech companies are shelling out high six-figure salaries for senior communications roles. Anthropic is hiring for a head of product communications with a listed $400,000 salary; Netflix is looking for a senior director of communications with a salary range of $656,000 to $1.2 million; and OpenAI is seeking a head of infrastructure communications and a head of business com ...

In this articleORCLAMZNMETAGOOGLHyperscalers are significantly ramping up their AI capex spending — and increasingly using credit markets to fund it. But investors say this shift is challenging mega-cap tech giants' so-called 'fortress balance sheet' status, and rips up what they call the "unspoken contract" that kept speculative AI spending largely separate from debt markets.After Amazon, Meta and Google-owner Alphabet all unveiled sizable increases in their full-year capex spending plans during earnings s ...