#3 · Cloud Capex QoQ
Latest
27.21%
Min
-14.07%
Max
27.21%
Data points
19
Creator threshold
Creator: when absolute capex still hits records but QoQ growth goes flat/negative, exit even on a strong print.
Historical state distribution2021-12-31 → 2026-06-30
| Triggered | 4 | 21.1% |
| Warning | 3 | 15.8% |
| Not triggered | 12 | 63.2% |
Combined quarter-over-quarter growth of hyperscaler capex (MSFT, AMZN, GOOGL, META). The tell is the second derivative: absolute capex can keep setting records while its growth rate stalls — meaning the "incremental demand" priced into valuations has evaporated.
Terminal data · cash-flow (MSFT/AMZN/GOOGL/META)