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The Projection

The surface is never the system.

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Flow type · capex

$556.2B tracked across 10 claim(s) (+14 more without a settled point figure — see members) (+3 reported, not closed, not in the total — see members)

Sum of point-figure, USD-denominated flow claims tagged Flow type · capex in the money-flow graph, leaving out claims with no realization status (reported, not closed) and guarantees (contingent).

Aggregate of 27 member claims — each member's sourced figures are below.

the working

Basis

Sum of point-figure, USD-denominated flow claims tagged Flow type · capex in the money-flow graph, leaving out claims with no realization status (reported, not closed) and guarantees (contingent).

The pieces 27

Every claim that fed this total, plus any that couldn't be summed — click a row for its own sourcing.

FlowAs ofAmount
TSMC → unnamed vendor(s) — land, shell & materials vendor unnamed$265.0B
Adani Group → unnamed vendor(s) — n/a — financing vendor unnamed2026-02-16T00:00:00Z$100.0B
SpaceXAI → unnamed vendor(s) — n/a — financing vendor unnamed2026-08-30T00:00:00Z$100.0B
TSMC → unnamed vendor(s) — land, shell & materials vendor unnamed2026-08-11T00:00:00Z$29.4B
Micron → unnamed vendor(s) — memory & storage vendor unnamed$27.4B
SpaceXAI → unnamed vendor(s) — n/a — financing vendor unnamed2026-07-01T00:00:00Z$19.6B
CXMT → unnamed vendor(s) — memory & storage vendor unnamed2026-09-28T00:00:00Z$5.2B
American Electric Power → unnamed vendor(s) — power infrastructure vendor unnamed2026-10-14T00:00:00Z$4.0B
SK Hynix → unnamed vendor(s) — land, shell & materials vendor unnamed2026-09-16T00:00:00Z$3.8B
Black Hills Corp. → unnamed vendor(s) — power infrastructure vendor unnamed2026-10-06T00:00:00Z$1.8B
AMD → unnamed vendor(s) — compute silicon & systems vendor unnamed2026-05-21T00:00:00Znot summed
Nebius → unnamed vendor(s) — land, shell & materials vendor unnamed2026-03-01T00:00:00Znot summed
Micron → unnamed vendor(s) — memory & storage vendor unnamednot summed
Constellation Energy → unnamed vendor(s) — power infrastructure vendor unnamed2026-10-06T00:00:00Znot summed
SpaceXAI → unnamed vendor(s) — n/a — financing vendor unnamed2026-10-01T00:00:00Znot summed
Meta → unnamed vendor(s) — n/a — financing vendor unnamed2026-01-01T00:00:00Znot summed
Sesterce → unnamed vendor(s) — n/a — financing vendor unnamed2026-10-08T00:00:00Znot summed
RHAELM Holdings → unnamed vendor(s) — n/a — financing vendor unnamed2026-10-01T00:00:00Znot summed
CDC Data Centres → unnamed vendor(s) — n/a — financing vendor unnamed in talks2026-09-24T00:00:00Zin talks, not counted
Microsoft → unnamed vendor(s) — n/a — financing vendor unnamed2026-08-31T00:00:00Znot summed
IREN → unnamed vendor(s) — n/a — financing vendor unnamed2026-08-27T00:00:00Znot summed
Kioxia → unnamed vendor(s) — memory & storage vendor unnamed2026-08-27T00:00:00Znot summed
Microsoft → unnamed vendor(s) — n/a — financing vendor unnamed2026-09-23T00:00:00Znot summed
Toshiba → unnamed vendor(s) — memory & storage vendor unnamed in talks2026-10-02T00:00:00Zin talks, not counted
Nvidia and Eli Lilly co-innovation AI lab, up to USD 1 billion over five years (January 2026) → Nvidia-Lilly co-innovation AI lab2026-01-12T00:00:00Znot summed
Aligned Data Centers → unnamed vendor(s) — n/a — financing vendor unnamed2026-09-11T00:00:00Znot summed
TSMC → unnamed vendor(s) — n/a — financing vendor unnamed in talksin talks, not counted
Total (settled figures only)$556.2B

A claim is one metric we assert about a node — the value is the summary, this page is the receipt. Sourced from kestrel; supersedes-history not yet shown. Back to Research · Q1.