Record hyperscalers' capex driven by AI
AIRPO·2024-11-18 03:33
M Update China – Data Centers | Asia Pacific November 15, 2024 01:16 PM GMT Record hyperscalers' capex driven by AI Key Takeaways Alibaba and Tencent combined spent Rmb31.7bn operating capex in 3Q24, +196% YoY/66% QoQ, reaching the highest level ever seen. Both noted strong momentum for AI – AI computing is a teens (%) share of Tencent's IaaS revenue and Alicloud continues to show triple-digit AI-related growth. We think this reads positively for China's data center companies – especially GDS. Alibaba and T ...