US · Hot AI Themes
Hyperscalers & AI Cloud (the buyers)
Four US hyperscalers guided to roughly $700B+ of 2026 capex, with 2027 modelled near $1T. Their guides set demand for every supplier on this site; neoclouds add more.
Capex guide→Orders→Data centers→AI revenue
80
Tightness score ⓘ
#10 of 56
▲ Tightening
Lead time
Quarterly guides
Theme 1M
−13.6%% in uptrend
14%Metric to watch
Quarterly capex guidance, cloud revenue growth, and 'capacity constrained' language on earnings calls.
What would prove us wrong
Weakens if two or more hyperscalers cut forward capex guidance in the same quarter.
Hyperscalers theme performance
Equal-weight · rebased 100 · 1YStocks we track
Who controls this bottleneck
Roles, not recommendations. Delayed prices; local currency.
| Stock | Role | Listing | Last | 1D | 1M | 3M | YTD | Off 52w high | Trend | Next earnings |
|---|---|---|---|---|---|---|---|---|---|---|
| MSFT Microsoft |
Largest AI cloud buyer; Azure and OpenAI capacity | NASDAQ US |
$529.7 | +0.98% | +2.6% | +34.9% | +10.2% | −2.5% | 2026-10-28 | |
| GOOGL Alphabet |
Waymo driverless fleet and TPUs | NASDAQ US |
$319.0 | −0.37% | −7.2% | −4.3% | +2.1% | −20.7% | 2026-10-28 | |
| AMZN Amazon |
AWS; Trainium custom chips and the largest capex budget | NASDAQ US |
$248.9 | +0.37% | −0.3% | +7.8% | +7.8% | −12.4% | 2026-10-29 | |
| META Meta Platforms |
Gigawatt training campuses (Prometheus, Hyperion) | NASDAQ US |
$643.5 | +0.14% | −14.4% | +8.5% | −2.2% | −17.2% | 2026-10-21 | |
| ORCL Oracle |
OCI AI cloud; Stargate capacity for OpenAI | NYSE US |
$125.9 | −0.21% | −7.8% | +5.3% | −34.5% | −55.0% | 2026-12-14 | |
| CRWV CoreWeave |
GPU cloud; large consumer of powered shells | NASDAQ US |
$56.49 | +4.17% | −35.5% | −16.1% | −21.1% | −59.6% | 2026-11-11 | |
| NBIS Nebius Group |
Neocloud building GPU capacity in US and Europe | NASDAQ Netherlands/US |
$160.1 | +0.88% | −32.5% | −5.6% | +91.3% | −44.1% | 2026-11-10 |
Recent headlines
Auto-updated- Microsoft introduces new sovereignty tools across public and private cloudData Center Dynamics · 5h ago
- Wall Street Warning: The AI Trading "Canary" Is Crying Foul! CoreWeave Could Drag Down the U.S. Stock MarketMoomoo · 5h ago
- Neoclouds Face Certain ‘Death,’ Warns Musk. Why CoreWeave and Nebius Will Survive.Barron's · 5h ago
- Oppenheimer raises Microsoft target ahead of earnings amid demand strengthYahoo Finance · 5h ago
- Why is Nebius stock sliding today?Investing.com · 5h ago
- Can Nebius (NASDAQ:NBIS) Survive Musk's 200-Plus Neocloud Warning?Kalkine · 5h ago