Capex · Capital Expenditure
Up-front spending on long-lived assets like buildings, power gear and GPUs, depreciated over their useful life.
Current numbers
more than $1Tglobal data center capex in 2026 (~21% CAGR through 2029; GPUs ~1/3 of capex)
more than $1Tglobal data center capex 2026, approaching — volatile market figure; analyst estimates differ by capex-scope definition
~$710–740Btop-4 US hyperscaler capex guidance for 2026 (+60-67% YoY; Oracle-inclusive top-5 ~$750B)