The current $1.5T AI arms race: are hyperscalers building utopia, building dystopia, building digital god, or simply lighting trillions of dollars on fire in a dollar auction? When “free cash flow” meets a once‑in‑a‑lifetime tech shock, balance sheets stop looking like software and start looking like railroad lines…
**The Gonzo Size of the HyperScaler DataCenter Investment Boom: Chart of the Day**
< https://braddelong.substack.com/p/the-gonzo-size-of-the-hyperscaler >
2026-05-12