Artificial intelligence (AI) is emerging as a foundational technology for the future. This can be seen from the robust capital spending by US and China hyperscalers. At the latest US earnings results season in May, selected US hyperscalers guided their capex forecasts higher. The CEO of the world’s largest hyperscaler also commented that their AI capacity is being used up as fast as it is put in, calling out supply bottlenecks in motherboards and components.
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