Economics Of AI

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Explore unbiased, data-driven AI themes across the five-layer stack: applications, models, infrastructure, chips, and energy.

Hyperscalers RPE Ranked

Based on the last-twelve-months revenue, the five hyperscalers generated $787,000 per employee on average. Meta led at $2.76M per employee.

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Infrastructure

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Explore unbiased, data-driven AI insights across the five-layer stack: applications, models, infrastructure, chips, and energy.

AI Capital Expenditure

Hyperscalers RPE Ranked

Based on the last-twelve-months revenue, the five hyperscalers generated $787,000 per employee on average. Meta led at $2.76M per employee.

22 May, 2026

Ravinder Deol

AI Capital Expenditure

Hyperscalers Profit Per Minute

Based on last-twelve-months net profit, the five hyperscalers generated a combined $881,000 per minute. Alphabet led at $305,000 per minute.

21 May, 2026

Ravinder Deol

AI Capital Expenditure

Hyperscalers CapEx To Cash Flow

Combined, hyperscalers spent 98.88% of operating cash flow on capital expenditure in Q1 2026. It is up 46 percentage points since GPT-4 launched.

20 May, 2026

Ravinder Deol

AI Capital Expenditure

Hyperscalers CapEx To Revenue

On average, hyperscalers spent 50% of their revenue on capital expenditure in Q1 2026. That is up 36 percentage points from 15% in Q1 2018.

19 May, 2026

Ravinder Deol