The A100 point is the strongest in the deck for me. That chip launched in May 2020, so a six-year-old generation renting at or above January levels is a lot of support for the 5 to 6 year depreciation lives the hyperscalers use.
69 percent of the S&P 500 report a live AI deployment. 2 percent track a metric. The same shape shows up one machine at a time. In Professor Ryuichi Hayashi's archive of 295 documented robot projects, seven plants installed the same two-armed robot. Their reported productivity gains ran from 1.1 times to 8 times. One robot model, a spread of seven times, and the pages seldom say why. My candidate, presented at the robot-economics conference in Kiel on Monday, is set after the purchase by people in the plant: what the robot is allowed to do on its own. No survey I have found records it. The variable sits around the machine.
Packed with data and insight. The debt market for hyperscalers have already tightened apparently, so the capital expenditure may slow ? Also, it will be good to know who is getting all these money at the end - companies in Taiwan, South Korea, China ?
76% of S&P earnings growth coming from tech is a wild stat. Do the charts show how much of the capex is now debt-funded versus paid out of free cash flow?
incredible report, great insights particulay on fcf and saas
Superb report!
The A100 point is the strongest in the deck for me. That chip launched in May 2020, so a six-year-old generation renting at or above January levels is a lot of support for the 5 to 6 year depreciation lives the hyperscalers use.
69 percent of the S&P 500 report a live AI deployment. 2 percent track a metric. The same shape shows up one machine at a time. In Professor Ryuichi Hayashi's archive of 295 documented robot projects, seven plants installed the same two-armed robot. Their reported productivity gains ran from 1.1 times to 8 times. One robot model, a spread of seven times, and the pages seldom say why. My candidate, presented at the robot-economics conference in Kiel on Monday, is set after the purchase by people in the plant: what the robot is allowed to do on its own. No survey I have found records it. The variable sits around the machine.
Paper: doi.org/10.5281/zenodo.22914274
Incredible resource - thank you for making this available!
Packed with data and insight. The debt market for hyperscalers have already tightened apparently, so the capital expenditure may slow ? Also, it will be good to know who is getting all these money at the end - companies in Taiwan, South Korea, China ?
Some real quality content, great job!
Thanks for sharing this
It’s a shame to see so many people using the report mainly to reinforce the AI doom narrative... when the actual picture is much more nuanced
lol tech 4x'd the rest of the S&P in the past 5 years
76% of S&P earnings growth coming from tech is a wild stat. Do the charts show how much of the capex is now debt-funded versus paid out of free cash flow?
How much of the software profit improvement came from cutting costs? I'm curious whether customers are spending more too.