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Tech x VC | Technology, AI, semiconductors & venture capital

Tech x VC · Global · Technology, AI, semiconductors, and venture capital for builders and investors | Showing 8 of 8

Tech x VC | Technology, AI, semiconductors & venture capital

Technology, AI, semiconductors, and venture capital — curated for builders and investors.

Tech x VC · Global · Showing 8 of 8

The Balance Sheet - Behind the AI Revolution (March 2026) | Apollo Global | Report

**Author:** Rob Bittencourt, Partner & Head of Apollo Thematic Investing **The Core Thesis: HALO is the New Paradigm** Apollo argues that the investment zeitgeist has fundamentally shifted away from capital-light, high-margin software businesses toward what they term **HALO — Hard Assets, Low Obsolescence**. Factories, fiber, and railroads are back in vogue, driven largely by AI-induced obsolescence fears in the…

Mar 30, 2026·AI
The Balance Sheet - Behind the AI Revolution (March 2026) | Apollo Global | Report

Sentiment Shifts on AI Capex Spend (Feb 28, 2026) | Goldman Sachs

> "Investors aren't blindly buying a vision anymore; they are policing the cash conversion path." - **Tony Pasquariello** (On the shift in market sentiment toward Big Tech spending) [[00:04:15](https://www.youtube.com/watch?v=aUeMeFJwCwQ&t=0h04m15s)] > "Strategic necessity isn't a blank cheque; the market is starting to demand a 'show me' phase for AI revenues." - **Dominic Wilson** (Discussing hyperscaler capital…

Mar 2, 2026
·AI
Sentiment Shifts on AI Capex Spend (Feb 28, 2026) | Goldman Sachs

https://www.apolloacademy.com/wp-content/uploads/2026/02/Hyperscaler-capex-022226_v2.pdf

Putting the total amount of hyperscaler capex into perspective | Feb 2026 | Apollo Global Management

Feb 24, 2026·Apollo
https://www.apolloacademy.com/wp-content/uploads/2026/02/Hyperscaler-capex-022226_v2.pdf

How Much Is $646 Billion? | Feb 22, 2026 | The Daily Spark | Apollo

Apollo: The amount of money being spent on capex by hyperscalers is enormous at around $646 billion in 2026. The charts in this [chart book](https://www.apolloacademy.com/wp-content/uploads/2026/02/Hyperscaler-capex-022226_v2.pdf) put that number into perspective. Specifically:

Feb 24, 2026·AI
How Much Is $646 Billion? | Feb 22, 2026 | The Daily Spark | Apollo

https://www.cbinsights.com/reports/CB-Insights_Tech-Trends-2026.pdf?utm_source=substack&utm_medium=email

*Big tech and AI labs build on-site power generation amid grid constraints #cbinsights*

Feb 20, 2026·CB Insights
https://www.cbinsights.com/reports/CB-Insights_Tech-Trends-2026.pdf?utm_source=substack&utm_medium=email

https://x.com/ByrneHobart/status/2019173881580511267?s=20

Feb 19, 2026·AI
https://x.com/ByrneHobart/status/2019173881580511267?s=20

The "Al Industrial Revolution": Hyperscaler & Meta CapEx (2016-2026)

*Source: [Haydn Belfield](https://x.com/HaydnBelfield/status/2019323556601958513?s=20)* *Combined 2026 CapEx for the Big 4 (Alphabet, Amazon, Microsoft, Meta) is projected to be **$590 billion**.* ​ - "Two-Thirds of the Pentagon" ​Equivalent to ~65-70% of the US military budget ($850–$900bn) ​2. ~1.9% of US GDP ​Rivals peak spending of the Interstate Highway System (~1.8% GDP in the late 1950s)

Feb 18, 2026·AI
The "Al Industrial Revolution": Hyperscaler & Meta CapEx (2016-2026)

https://x.com/PeterBerezinBCA/status/2022441756508459151?s=20

*Zerohedge: Once MSFT goes FCF < 0, the off-balance sheet tsunami will make Enron look like amateur hour | Source : [Peter Berezin BCA](https://x.com/PeterBerezinBCA)*

Feb 16, 2026·Mag7
https://x.com/PeterBerezinBCA/status/2022441756508459151?s=20
Source
AIFinanceHyperscalers
+99 more tags
InfrastructureMacro / EconomicsMag7Markets & InvestmentsPE/VCReportReport, Blogs & InsightsTechnology

The Balance Sheet - Behind the AI Revolution (March 2026) | Apollo Global | Report

Author: Rob Bittencourt, Partner & Head of Apollo Thematic Investing

The Core Thesis: HALO is the New Paradigm

Apollo argues that the investment zeitgeist has fundamentally shifted away from capital-light, high-margin software businesses toward what they term HALO — Hard Assets, Low Obsolescence. Factories, fiber, and railroads are back in vogue, driven largely by AI-induced obsolescence fears in the…

View Full Article
UJ
Mar 30, 2026
Source
AIGoldman SachsHyperscalers
+22 more tags
Podcast
Source
Apollo
Source
AIApolloHyperscalers
+22 more tags
Source
CB InsightsAIPower
Source
AICapexMag7
+55 more tags
Source
AICapexEquity
+55 more tags
Source
Mag7HyperscalersAI
+77 more tags
Wall Street
Technology

Sentiment Shifts on AI Capex Spend (Feb 28, 2026) | Goldman Sachs

"Investors aren't blindly buying a vision anymore; they are policing the cash conversion path." - Tony Pasquariello (On the shift in market sentiment toward Big Tech spending) [00:04:15]

"Strategic necessity isn't a blank cheque; the market is starting to demand a 'show me' phase for AI revenues." - Dominic Wilson (Discussing hyperscaler capital…

View Full Article
UJ
Mar 2, 2026
Hyperscalers
Capex
+88 more tags
ReportFinanceWall StreetTechnologyAIMacro / EconomicsReport, Blogs & InsightsPE/VC

https://www.apolloacademy.com/wp-content/uploads/2026/02/Hyperscaler-capex-022226_v2.pdf

Putting the total amount of hyperscaler capex into perspective | Feb 2026 | Apollo Global Management

View Full Article
UJ
Feb 24, 2026
Report, Blogs & InsightsTechnology

How Much Is $646 Billion? | Feb 22, 2026 | The Daily Spark | Apollo

Apollo: The amount of money being spent on capex by hyperscalers is enormous at around $646 billion in 2026.

The charts in this chart book put that number into perspective.

Specifically:

View Full Article
UJ
Feb 24, 2026
+5
5 more tags
HyperscalersReport, Blogs & InsightsTechnologyMacro / EconomicsCrude Oil & Energy

https://www.cbinsights.com/reports/CB-Insights_Tech-Trends-2026.pdf?utm_source=substack&utm_medium=email

Big tech and AI labs build on-site power generation amid grid constraints #cbinsights

View Full Article
UJ
Feb 20, 2026
HyperscalersPE/VCFinanceReport, Blogs & InsightsTechnology

https://x.com/ByrneHobart/status/2019173881580511267?s=20

View Full Article
UJ
Feb 19, 2026
HyperscalersMag7Report, Blogs & InsightsSP500Technology

The "Al Industrial Revolution": Hyperscaler & Meta CapEx (2016-2026)

Source: Haydn Belfield

Combined 2026 CapEx for the Big 4 (Alphabet, Amazon, Microsoft, Meta) is projected to be $590 billion. ​

  • "Two-Thirds of the Pentagon"

​Equivalent to ~65-70% of the US military budget ($850–$900bn)

​2. ~1.9% of US GDP ​Rivals peak spending of the Interstate Highway System (~1.8% GDP in the late 1950s)

View Full Article
UJ
Feb 18, 2026
DatacenterCapexSP500Report, Blogs & InsightsTechnologyMarkets & InvestmentsUS

https://x.com/PeterBerezinBCA/status/2022441756508459151?s=20

Zerohedge: Once MSFT goes FCF < 0, the off-balance sheet tsunami will make Enron look like amateur hour | Source : Peter Berezin BCA

View Full Article
UJ
Feb 16, 2026