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Topic

Hyperscaler Capital Spending

The capital expenditure and lease commitments the largest cloud operators make on data centers, servers and networking equipment, and how they report them.

Current stories

investConfirmed4 publishers

Marvell credits connectivity chips for most of a $2 billion lift in its fiscal 2028 target

Marvell raised its fiscal 2028 revenue target to about $20 billion, up from $18 billion in August and $16.5 billion before that. Chief executive Matt Murphy credits most of the gain to connectivity products such as 1.6T optical signal processors, while data center sales, 79% of revenue, still rest on a handful of hyperscaler budgets.

Perspective Coverage

4 publishers
Builder
Builder 11%
Operator
Operator 8%
Investor
Investor 81%

Reality

Evidence62
Adoption68
Hype gap+25
Incentives70
Confidence60
investOne report1 publisher

Meta pays $115m to train the electricians its own contractors will hire

America's Workforce Academy opens with pilots in four metros where Meta already runs data centres, and it guarantees every graduate a job offer from one of Meta's construction partners. The credential they earn is portable.

Reality

Evidence30
Adoption25
Hype gap+35
Incentives78
Confidence38
investOne report1 publisher

Capital Economics's 30% drawdown needs the S&P multiple back at 13.7 times

James Reilly's September 10 report has the S&P 500 cracking next year and eventually falling at least 30% from its high, while Morgan Stanley Wealth Management's committee still carries a year-end target of 8,000.

Publishers:fortune.com

Reality

Evidence58
Adoption
Not scored
Hype gap+28
Incentives66
Confidence48
investOne report1 publisher

Capital Economics pencils in 7.7% more upside before a 21% fall to 6,500

James Reilly's path has the S&P 500 up 7.7% by December and down 21% by the end of 2027, a net loss of about 15% for anyone who holds through both legs. Ruchir Sharma's 5% trigger is three basis points away.

Publishers:fortune.com

Reality

Evidence42
Adoption
Not scored
Hype gap+30
Incentives58
Confidence45
investOne report1 publisher

Microsoft more than triples its gigawatt plan after Azure sent GitHub's agents to AWS

Bloomberg reported a six-year plan taking Microsoft from about 12 gigawatts to more than 38 by 2032, and the $329bn of data-center leases already signed but not yet commenced sits outside the $145bn capex line.

Publishers:techtimes.com

Reality

Evidence60
Adoption62
Hype gap+22
Incentives62
Confidence46