# AI capex — X 热门讨论 (2026-09-20 19:23 UTC)
## @timoassi (Timothy 🟢 | Panic Drop) · 09-20 15:32 · ♥30 ↻4 💬13 AI CAPEX IS $690 BILLION THIS YEAR AND ALL OF IT NEEDS POWER ‼️
Here are 6 stocks across the AI power stack 👇🏻
1/6 GE Vernova $GEV Power generation https://t.co/U0mWdVxxku https://x.com/timoassi/status/2101695881607098559
## @practicalquant (Jack Forehand) · 09-19 13:46 · ♥33 ↻6 💬1 New First Principles is out:
@dampedspring is back to break down the Fed hike, inflation, the issuance needed to fund AI capex, why he’s become more positive on bonds and a lot more.
https://t.co/fORbr4c8LA https://x.com/practicalquant/status/2101306824909578569
## @reasonus4 (Reasonus4) · 09-19 21:05 · ♥32 ↻4 💬2 Repeating: Closed model AI shitcos are bankrupt.
Every capex cycle, early movers lever up & go bankrupt: $ORCL $CRWV OpenAI Anthropic, SoftBank in deep trouble. $SPY $QQQ > 引用 @unusual_whales: "OpenAI and Anthropic oversold AI security breaches to pressure feds into protecting turf," per NYP https://x.com/reasonus4/status/2101417525972263137
## @SemiconductorsX (Semiconductor Insider) · 09-19 18:36 · ♥30 ↻5 💬1 JPM’s latest AI map is not another GPU story. ASICs, networking and WFE take the next shift.
The constraint is still supply. Cloud capex in the bank’s set rises from $491 billion in 2025 to $954 billion in 2026, then $1.405 trillion, $1.548 trillion, $1.547 trillion and $1.661 trillion through 2030.
Hyperscaler revenue growth peaked at 69% year on year. Operating profit growth hit 65%. Both are cooling. Both are still high.
Accelerator units go from 10.1 million in 2025 to 16.3 million in 2026, 25.2 million in 2027 and 30.9 million in 2028. $NVDA NVIDIA GPUs stay the biggest single line: 8.9 million, then 10.0 million, then 11.6 million. $GOOG Google TPUs jump from 4.4 million to 11.6 million. Custom parts at AWS, Meta and Microsoft accelerate with them.
ASIC and XPU share of units dips to 32% in 2025, then 41%, 54% and 55% by 2028. ASIC units overtake GPU units around 2027–28. $AVGO Broadcom sits across Google, Meta, OpenAI, SoftBank and Arm, with Anthropic still in the mix.
Networking is the next bind. Tomahawk 6 is already sold out for calendar 2027.
WFE is modeled plus 31% in 2026 and plus 38% in 2027 on TSMC N2 and N3, HBM and DRAM.
Cleanrooms are now called the main physical cap.
NVIDIA trades at 15.8 times next-twelve-month earnings, under its mid-range history. Broadcom at 18.6 times.
Semis crowding spiked after 2025 and has eased. https://x.com/SemiconductorsX/status/2101379832919826695
## @benoitz (Benoit) · 09-20 17:39 · ♥31 ↻0 💬1 A few months ago the $IREN conversation was mostly FUD: dilution, capex, financing.
Now it’s: - $4B contracted ARR - Horizon 1 delivered to Microsoft - 2026 capacity largely sold out - Chamath putting $IREN on his list of AI economic winners
Still holding all 21,000 shares. https://x.com/benoitz/status/2101727910964990220