The hyperscalers’ dilemma
The opinions expressed here by Trellis expert contributors are their own, not those of Trellis or its editors. Last year, Wall Street’s consensus for 2026 capital expenditure by the major tech companies averaged $365 billion. Today, it’s $725 – $805 billion. Roughly three-quarters is for direct AI infrastructure: GPUs, racks, campuses, substations. Capex estimates for […]
