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Inauguruption: the flurry of Trump 2.0 executive orders
From assets.jpmprivatebank.com
Before getting into the eruption of executive orders released yesterday, I want to address questions on a chart from our 2025 Outlook which received the most attention. Our goal was to highlight rising hyperscaler capital spending on AI infrastructure, and the general principle that these companies will need hundreds of billions in new incremental AI revenues to maintain their current margins due to these new outlays. chart What was the inspiration for this chart? “AI’s $600 billion question”, a piece by David Cahn at Sequoia Capital (previously at Coatue) Are GPUs really 50% of total data center costs? I ... (full story)