Apr. 28 at 2:08 PM
The last time tech’s hyperscalers addressed Wall Street, three months ago, they announced plans to collectively spend well over half a trillion dollars this year to build out their artificial intelligence infrastructure.
That was before the U.S. invaded Iran, causing oil prices to spike, and leading to a dramatic slowdown in production of helium, which is crucial to semiconductor manufacturing. Meanwhile, the global memory crisis has worsened, forcing tech giants to pay up for the capacity needed to satisfy their data center ambitions.
But pay for it they will. With Anthropic’s Claude models and coding tools growing at historic rates and services like OpenAI’s ChatGPT and Google’s
Gemini continuing to gain popularity at home and in the office, the world’s most valuable tech companies have shown no signs of pulling back on the buildouts they say are needed to meet seemingly insatiable demand for compute resources.
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