Description
In the wake of deepseek and hyperscale pullbacks, what is the outlook for hyperscale capex? Where are we in the cycle between absorption and raw capacity builds? None of the hyperscalers dialled back CapEx commitments in the first half of the year despite various concerns about the state of supply and demand, and even fears of a possible overbuild situation developing. Moving into the 2Q25 and 3Q25 periods, CapEx outlays have steadily risen.
