Hyperscaler capex near $780B this year, yet only 30% of S&P 500 quantify AI impact
DavidGeorge83 · x · 2026-09-30
Sequoia's David George on the dual nature of this AI cycle: unprecedented infra buildout alongside very early enterprise adoption.
- Consensus forecasts put the five largest hyperscalers' capex near $780B this year, spilling into power and industrial capacity — a renaissance in the realm of atoms.
- On adoption: only about 30% of S&P 500 companies report a quantified AI impact, leaving a substantial opportunity in connecting models to company data and workflows.
- He echoes the idea that the factory (or the datacenter) is the product, with demand from bits motivating investment in atoms.
Related event: a16z: Hyperscaler Capex Nears $780B as AI Cycle Unfolds(4 posts)→
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