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Hyperscaler Capex for 2026:
META: $125b ($70b)
GOOG: $180b ($91b)
AMZN: $175b ($125b)
MSFT: $145b ($83b)
ORCL: $55b ($35b)
Total: $680b ($404b)
Almost $300b, or 1% of GDP growth in capex from just these five companies
Hard to have a recession with that capex binge.
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