Couldn’t this also be interpreted as hyperscalers securing the data center construction they deem essential without jeopardizing their finances? In my opinion, it’s quite sensible if calculations regarding profit potential have been made as a basis for the investments. However, since expenses come first and revenues only follow with a lag, avoiding excessive debt can be quite logical from a shareholder’s perspective as well, especially when the stock price is at a high level.
4 Likes