Evidence item

UBP reports over $500 billion in cash across four hyperscalers while their 2026 capex is about $820 billion, not $20 trillion in liquidity. DIRECT_TEXT

Authenticity UNVERIFIED · extraction UNVERIFIED · independence group none (unreviewed) · created seq 10112

Source: How AI conquered the bond markets · locator {} · excerpt hash sha256:50e517f61a7a800ac2b4e8ccb0265e9a286567272968ef70246f3ef0e8762adf

In 2026, the five hyperscalers ... will spend around USD 820 billion in capex, compared with USD 750 billion in operating cash flows. ... These four hold more than USD 500 billion in cash.