Pershing Square says Big Tech AI spending is 'offensive rather than defensive', expects capex cuts if revenue doesn't follow

Pershing Square says Big Tech's AI spending is 'offensive rather than defensive' but expects capex cuts if revenue doesn't follow. Hyperscaler capex has risen from about $140B in 2023 to about $740B in 2026, with consensus seeing over $1 trillion next year.

Detected & updated continuously · Source: Nebula