Stratechery's Weekly Roundup Argues the AI CapEx Train Keeps Rolling Despite Capital Constraints

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Ben Thompson's Stratechery 2026.33 (week of August 10, 2026) collects the week's analysis around a single thesis: AI capital expenditure continues to accelerate even as capital constraints tighten, alongside pieces on AI writing and a two-cities comparison. It is synthesis rather than reporting, but Thompson's capex framing has been a reliable leading indicator for how the market reads hyperscaler spending. Useful as a read on sentiment, not as a source of new data.