Composite index of trailing capital expenditure from the four major hyperscalers. Data center electricity consumption surged 50% in 2025. AI-focused data centers consuming power at 2.94x overall data center growth rate.
Hyperscaler capex is the cleanest demand signal for power infrastructure. Filing-to-delivery lag is 2–5 years — today's announcements forecast 2027–2030 power demand.
| Factor family | Capex & Technology |
| Relative weight | Supporting |
| Update cadence | Quarterly |
| Modeled lead | ~26 weeks (a modeling assumption, not a validated finding) |
| Data source | SEC_XBRL_SUM |
The lead time above is a design assumption, not an out-of-sample-validated relationship for a specific security or index. This is one Capex & Technology input among 47; it measures macro context, not a full investment thesis.
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Unstructured Alpha weighs Hyperscaler CapEx (MSFT+AMZN+GOOGL+META) alongside 46 other macro signals to build a Confluence Score for each stock. See how this signal is currently shaping the macro backdrop for the tickers you follow.
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Scores are derived from macro signals (FRED, EIA, SEC filings, FINRA short interest)
and updated as new data arrives. This is not financial advice. Past signal accuracy
does not guarantee future results.
unstructuredalpha.com · Not financial advice