24 September 2026 | 4:30PM EDT Equity Research Americas Technology: Sizing the AI Economy Needed to Justify ROIC on Hyperscaler AI Capex Against rising compute needs to match outsized and growing AI token consumption, the US-based hyperscalers have undergone a dramatic transformation around capital intensity to match this computational shift. These investments are being made against a combination of both real-time demand signals (in a current supply/demand imbalance) and multi-year compute needs of key cust ...