Nvidia now takes 38% of top-5 hyperscaler IT capex, up from 11% in 2023, targeting 44%
Beth_Kindig · x · 2026-10-13
Nvidia says its share of IT capex across the top 5 hyperscalers has climbed from 11% in early 2023 to 38% in Q2 2026 — a 3.5x increase — and projects it will reach 44% by the end of 2027. The chart shows a rapid ramp to 35% through 2023-2024, a plateau, then renewed growth from 2025. The figure underscores how deeply cloud AI infrastructure spending now depends on Nvidia, leaving limited room for Broadcom and AMD to gain share.
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