Babbage (@thechipletter): "To put this into context France’s 🇫🇷 GDP is about $3 trillion so 2025/6 Hyperscaler capex is about 1/3 of that. Zut alors!"

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To put this into context France’s 🇫🇷 GDP is about $3 trillion so 2025/6 Hyperscaler capex is about 1/3 of that. Zut alors!

Eric Flaningam

Feb 9

Fascinating to see these two things play out in parallel:

The massive CapEx investments coming in 2026
The collapse of software multiples over the last quarter

It highlights the logic at hand for the hyperscalers: risk of disruption (software growth primarily coming from AI) + immediate reward from providing compute to the AI research labs …

May 8

11:00 AM

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