Remarkable numbers here. Goldman Sachs: 'The consensus of analysts is now for the mega-cap US hyperscalers to spend $755 billion on capex in…

Remarkable numbers here. Goldman Sachs: "The consensus of analysts is now for the mega-cap US hyperscalers to spend $755 billion on capex in 2026, representing growth of +83% vs. 2025. This capex is estimated to reach 100% of cash flows from operations this year, leaving little room to return cash to shareholders without a drawdown of cash balances or large increase in debt. Accordingly, the hyperscalers cut buybacks by -64% year/year during Q1, and now allocate 20% of total spending to buybacks and dividends compared to an average of 34% from 2017-2022."

Source: Gary Marcus (X) | 2026-05-10