AI Compute Infrastructure CAPEX Will Continue to Grow

ericjang11 · x · 2026-07-19

Contrary to the view that declining profit margins for frontier models will dampen capital expenditure (CAPEX), the author argues otherwise. As long as AI capabilities continue to improve, CAPEX demand will grow in tandem, regardless of whether the technological gap is leading or trailing by 6-12 months. Although current memory shortages and rising supply chain prices have squeezed margins, they have not prevented the accelerated expansion of compute infrastructure.

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