Capex Tracker · CRWV · 1 quarters on file
The neocloud counterweight to the hyperscalers: capex is nearly all contracted against signed customer commitments rather than speculative capacity. Guides annually, in a range, and revises it when component prices move. CIK is resolved from the SEC ticker map at fetch time rather than hand-typed.
Q1 2026 (Q1 2026)
$6.8B
Cash capex
Sequential
n/a
against the prior quarter on file
Year on year
n/a
same quarter, prior year
Guides to
Cash capex
fiscal year ends month 12
Calendar 2026 · guided 2026-05-07
In progress$31B to $35B · actual $6.8B (1 of 4 quarters)
projected $31 billion to $35 billion in 2026 capital expenditures, up from a range of $30 billion to $35 billion announced in February
The low end moved up on component prices while the top held, so the range narrowed rather than expanded. Against 14.9bn of 2025 spending, the midpoint is more than a doubling.
Roughly a fifth of the annual guide in the first quarter, against a contracted revenue backlog of 99.4bn at quarter end. The contrast with the hyperscalers is the point: this capex is spent against signed contracts rather than ahead of demand.
Hyperscaler Capex Tracker, Regards of Wallstreet. Licensed CC BY 4.0, machine-readable at /data/capex.json.
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