Atreides' Gavin Baker: operating cash flow will fund more of the 2027 AI buildout than expected
BenBajarin · x · 2026-10-28
Atreides' Gavin Baker argues on TBPN that more of the 2027 AI buildout will be financed by operating cash flow than people expect, with external financing nearing its peak. Hyperscalers signed compute contracts well below current market values; as contracts reprice higher and spot capacity grows (the CoreWeave playbook), cloud revenue growth should keep accelerating at high margins, funding capex internally.
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