Big Tech AI investment is going right to Nvidia: Chart of the Week

Throughout this earnings season, investors have been especially focused on Big Tech’s capital expenditures.

According to estimates from Bloomberg, coupled with quarterly reports, more than 40% of Nvidia’s revenue comes from some familiar names among the “Magnificent Seven” stocks — Microsoft, Meta, Alphabet, and Amazon. In the AI jungle, this data is a reminder that the chipmakers eat first, long before the hyperscalers can offer much more than hints to investors about when the AI investments will turn into AI revenue streams.

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