超大规模云服务商资本支出遭遇发行 --- Hyperscaler Capex Meets Issuance

Hyperscaler Capex Meets Issuance 超⼤规模云服务商资本⽀出遭遇发⾏ While geopolitical tensions are front and center for the markets in the near term, structural questions around AI disruption and hyperscaler issuance are still brewing under the hood. 尽管地缘政治紧张局势在短期内是市场关注的焦点，但关于⼈⼯智能带来的结构性变⾰和⼤型云服务商发⾏规模的问题仍在暗中酝酿。 Analysts now project AI-driven hyperscaler capex will reach ~$667 billion in 2026, following a year where their investments already constituted ~10% of US gross capital formation. GIR estimates CAPEX YoY increase peaks ...