Pressure Points: Hyperscalers Double Down on AI Capex
From Pressure Points by Deepwater Asset Management
April 30, 2026 · 6 min
About this episode
The episode discusses the increasing capital expenditure outlook for AI among hyperscalers.
The bottom line on the capex outlook, we’re early in the AI buildout. Three of the four hyperscalers hiked their AI spending outlook. I expect in CY26 will come in up closer to 80% vs. up Street expectations of up 64% going into tonight. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit deepwatermgmt.substack.com
People in this episode
Host: Deepwater Asset Management
Topics covered
- AI spending
- capex outlook
- hyperscalers
- technology investment
- business analysis
Keywords
- AI
- capex
- hyperscalers
- spending outlook
- technology
Mentioned in this episode
Organizations: Deepwater Asset Management, hyperscalers
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