Hyperscalers Have Already Outspent Most Famous US Megaprojects — 274pts HN Viral Analysis

Hacker Newsvia @finmoorhouse·medium signal

A viral analysis at 274pts/268 comments on HN comparing hyperscaler AI infrastructure spending to historical US megaprojects shows the scale is unprecedented. The Big Five (Microsoft, Alphabet, Amazon, Meta, Oracle) are collectively spending $660-690B on capex in 2026, with capital intensity hitting 45-57% of revenue. Amazon alone is at $200B. The $180B GPU/accelerator spend represents roughly 6 million GPUs. To fund this, hyperscalers raised $108B in debt in 2025 alone.