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Applied AI·July 8, 2026·1 min read

AI Spending Raises Questions on Diverging Chip & Hyperscaler Cycles

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If chip makers are ramping while hyperscalers start to question AI capex intensity, we’re entering a phase where supply and demand cycles may decouple. Enterprise buyers should watch for a window of better pricing and capacity — and avoid locking into long, inflexible commitments right as hyperscalers reassess spend.