Read the type before the number

Coverage and the dedicated hyperscaler tracker

The ledger covers specialist AI clouds and hosting operators, AI lab compute commitments, sovereign programmes, chipmakers and telecom-backed infrastructure.

Hyperscalers receive one summary each. Their detailed company-quarter histories live at Hyperscalers Capex. A blank amount means the source gave no figure.

Value types

Capex

Reported historical capital expenditure on the stated accounting basis. Cash purchases, deployed assets, segment capex and net capex are different measures.

Commitment

Cloud purchase agreement, lease commitment, equipment order or announced investment plan. MoUs and statements of intent are marked as such in the note.

Guidance

Management’s prospective capital budget or investment outlook at a named disclosure vintage. Historical forecasts remain historical; later outcomes do not make them actuals.

Programme budget

Public funding envelope, component allocation or mobilisation target. The qualifier distinguishes an approved budget from an ambition. A programme can include skills, software and research as well as infrastructure.

Overlap and double counting

The dataset publishes no global investment total. A lab’s cloud purchase commitment can finance a neocloud’s equipment and a hosting operator’s building. Stargate supplier projects sit inside broader Stargate plans. Programme components sit inside parent budgets. Annual capex includes quarters, while forecast vintages can cover the same year.

Keep actual capex, commitments, guidance and programme budgets separate. Even within a type, currency, scope and dates must align before analysis. Filters assist reading; they do not make the selected rows additive. Supplier contract value represents customer committed spend, not supplier capital expenditure.

Amounts, ranges and unknown values

Monetary values use billions of their original currency. No exchange-rate estimate is applied. Amount and upper-bound fields form a range when the source provides one; “up to” is a ceiling and “more than” is a floor. Neither is an exact realised amount.

USD millions are divided by 1,000, USD thousands by 1,000,000, Korean won trillions are multiplied by 1,000, and Indian crore are divided by 100. Calculations appear beside the affected reading. Source rounding is preserved. Source currencies are never added together.

Capacity-only announcements retain a null monetary amount. MW and GPU counts describe the stated deployment or plan and do not become estimated capex. We exclude equity fundraising, debt proceeds, company valuations and broad national investment pledges when they do not isolate an infrastructure spending plan.

Accounting scope

Chipmakers disclose investments supporting AI logic, HBM, conventional memory and other products. Each chipmaker reading specifies its scope; no assumed AI percentage is applied. Samsung readings isolate Device Solutions; Micron uses disclosed net capex after proceeds and incentives.

CoreWeave’s deployed-asset basis differs from cash paid, and Nebius cash-flow readings can include intangibles. IREN cash investment includes hardware prepayments and bitcoin infrastructure. Applied Digital’s segment note isolates HPC hosting. Finance lease additions and principal payments describe different events and are not interchangeable.

Source provenance and dates

Filings, company releases, investor presentations and government statements take priority. A specialist trade report supports the Fluidstack France MoU; its status is explicit. Every populated data field maps to a source URL and access date in JSON. Sector labels and scope cautions are editorial classifications supported by those disclosures.

Disclosure dates can postdate the historical period when a later filing includes comparatives. A missing precise publication date remains null. Delivery dates are as announced; the cited source carries the project status.

Corrections and reuse

Send corrections with a public source to desk@aicapextracker.com. Sponsorship is labelled and does not change inclusion or sorting. The compilation is available under CC BY 4.0; underlying documents retain their owners’ rights. Cite the reading and its original disclosure. Download CSV or JSON.