AI Training vs Inference Cost: What Filings Actually Show
Epoch AI prices GPT-4's final training run at $40 million. The companies buying AI infrastructure disclosed $227.8 billion of capex in si...
· 10 min read
Technology | LedgerTouch Intelligence
Cloud Segment Reporting: What Each Provider Discloses
AWS reported a 39.4% operating margin for the quarter to 30 June 2026 and Google Cloud 35.6%. Those two you can compare. Microsoft publis...
· 10 min read
Data Centre Power Constraints and $830bn of Signed Leases
Four hyperscalers have signed $830.5 billion of data centre leases that have not yet commenced. Three jurisdictions applied a firmness te...
· 10 min read
Capex to Revenue Ratio: 23% at Alphabet, 83% at Oracle
Capital spending at the five largest US cloud operators has roughly doubled as a share of revenue since 2023. Read straight off the filin...
· 10 min read
NVIDIA Pricing Power Is Intact: Data Centre Hits $75.2bn
Maia 200 shipped in January 2026 with a full published spec. In the two quarters since, NVIDIA's gross margin rose and its data centre re...
· 6 min read
Salesforce Is Profitable. Its AI Margins Are Not.
Salesforce guided FY27 operating margin up to 20.9% GAAP. ICONIQ projects 2026 AI product gross margins at 52% — against Salesforce's own...
· 4 min read
AI Capex Depreciation: Who Pays for NVIDIA's $75B Quarter
NVIDIA sold $75.2 billion of data-centre hardware in a single quarter. That figure is the hyperscalers' capital expenditure, and it becom...
· 5 min read
AI Gross Margin Stalls at 52% While Software Makes 80%
ICONIQ data put gross margin on AI products at a projected 52% for 2026. Adobe's subscription gross margin is 91.1%. Software has acquire...
· 5 min read
Google Cloud Operating Margin Hits 32.9% as Capex Doubles
Google Cloud's operating margin reached 32.9% in Q1 2026, up from 17.8% a year earlier, while Alphabet's capital spending more than doubl...
· 5 min read
NVIDIA Index Concentration: $215.9B Revenue, 7.58% Weight
NVIDIA's fiscal 2026 revenue was $215.9 billion with $193.7 billion from Data Center. Two customers were 36% of it, and the stock is 7.58...
· 4 min read