Thanks to Nvidia Corp.’s practice of reporting earnings outside of the typical cycle for technology companies, the question of whether the almost $5 trillion company will record strong demand in 2026 had already been safely answered well before its latest announcement on Wednesday.

Investors already knew that the hyperscaling AI companies are collectively forecasting around $650 billion in capital expenditures this year, an increase of about 60% from 2025 — and Nvidia will get a lot of it.

© Bloomberg