Tag
S&P Global revised its outlook on Meta to 'negative,' citing negative free cash flow and surging AI capex projected to exceed $225B by 2027, highlighting broader doubts about the sustainability of the AI spending boom across hyperscalers.
The author analyzes recent earnings reports from tech giants using a “two phases, three steps” framework, arguing that the current AI boom is primarily driven by investment rather than a surge in total factor productivity, and will use this framework to analyze the superconductivity industry chain.