#finance
- 4 min read
Hyperscaler Capex: The $730 Billion Question
Amazon, Alphabet, Microsoft, and Meta guided to roughly $720–745B of 2026 capex. Capex now exceeds operating cash flow at two of them. A look at the numbers, the accounting quirks, and what to watch going into Q3 prints.
#economics#capex#hyperscalers#finance#data-centers
- 4 min read
GPU Cloud Economics: What a GPU-Hour Really Costs
H100 rental prices went up in 2026, not down. A bottoms-up model of $/GPU-hr for a GB200 build, CoreWeave's P&L as a case study in depreciation and interest, and why $2.50 vs $3.50 is the line between a dud and a deal.
#economics#gpu-cloud#neoclouds#tco#finance