semiconductor / news / / The Tribune
The four major US hyperscalers are projected to spend 92 per cent of their operating cash flow on capex in 2026.
US hyperscalers' capex will reach 92% of operating cash flow by 2026, up from 41% in 2023.
KEY POINTS
- Major tech companies' capex is projected at $700 billion in 2024 and $800 billion in 2025.
- Hyperscalers are expected to spend 28% of operating cash flow on DRAM in 2024.
- There are now only three global DRAM suppliers, down from twelve before 2012, creating supply constraints.
- Nvidia and others are signing 3-5 year DRAM supply agreements, altering the memory industry's investment cycle.
COMPANIES
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