https://minutesof.com/on/hyperscalers/ Everyone on the record about hyperscalers: 24 verbatim quotes from 5 people, February 2024 to August 2026, in one chronology, each with a timestamp and a… en Sun, 30 Aug 2026 22:33:01 +0000 https://minutesof.com/q/924c9e94-b365-4a18-9a8d-a5628329ee05/ https://minutesof.com/q/924c9e94-b365-4a18-9a8d-a5628329ee05/ “No one is generating that much cash from the business yet. Right? Hyperscalers, they funded all of the growth up until now. Google, Microsoft, Amazon, Meta.” — Dylan Patel, Dwarkesh Patel Tue, 25 Aug 2026 15:57:53 +0000 hyperscalers https://minutesof.com/q/cb3e3303-15a7-44f3-b0ac-646dac4d09d8/ https://minutesof.com/q/cb3e3303-15a7-44f3-b0ac-646dac4d09d8/ “But there is an unusual amount of onetimers this quarter. And if you adjust for that, we went from 28 to 35. That's that's a material acceleration at this scale.” — Gavin Baker, Invest Like the Best Tue, 04 Aug 2026 08:00:00 +0000 hyperscalers https://minutesof.com/q/978729d0-58b1-4960-8a4f-e5ef94383ed3/ https://minutesof.com/q/978729d0-58b1-4960-8a4f-e5ef94383ed3/ “Operating cash flow from Microsoft, Meta, and Amazon has reported accelerated from '28 to '32. There are some actually pretty big unusual items now like these hyperscalers.” — Gavin Baker, Invest Like the Best Tue, 04 Aug 2026 08:00:00 +0000 hyperscalers https://minutesof.com/q/3bca3627-39ad-451a-b22f-91c71ec6186e/ https://minutesof.com/q/3bca3627-39ad-451a-b22f-91c71ec6186e/ “Let me just give you a statistic. It's just eight quarters ago that collectively they were doing a $150,000,000,000 in revenue. Now they're doing $350,000,000,000 in revenue.” — Brad Gerstner, Altimeter Capital Tue, 05 May 2026 22:10:35 +0000 hyperscalers https://minutesof.com/q/e72f2fb5-947f-453c-8aaa-bd38d3706cd1/ https://minutesof.com/q/e72f2fb5-947f-453c-8aaa-bd38d3706cd1/ “28% revenue growth out of Amazon at tremendous scale or 39% for Azure, 63% for Google, extraordinary. And of course, Anthropic is adding revenues at rates we've never seen before.” — Brad Gerstner, Altimeter Capital Tue, 05 May 2026 22:10:35 +0000 hyperscalers https://minutesof.com/q/59aa0cd8-2be5-4bd6-99fa-8aad2129359d/ https://minutesof.com/q/59aa0cd8-2be5-4bd6-99fa-8aad2129359d/ “Google and Amazon haven't taken on debt yet for AI infrastructure, but they will. Right?” — Dylan Patel, Latent Space Thu, 26 Feb 2026 21:15:18 +0000 hyperscalers https://minutesof.com/q/eac21179-024f-4ae9-8db2-3eee00972211/ https://minutesof.com/q/eac21179-024f-4ae9-8db2-3eee00972211/ “If we start looking at like, hey, this year, Google spending 2 Amazon spending $200,000,000,000, Google spending a $180,000,000,000 on on AI infrastructure primarily. Right?” — Dylan Patel, Latent Space Thu, 26 Feb 2026 21:15:18 +0000 hyperscalers https://minutesof.com/q/6bb3313a-2f23-4893-939b-d9299773dd6e/ https://minutesof.com/q/6bb3313a-2f23-4893-939b-d9299773dd6e/ “They have massive amounts of cash flow coming from lots of other businesses. And if I am worried about the debt of hyperscalers, the economy and The US have way bigger issues.” — Marc Rowan, Yahoo Finance Sun, 21 Dec 2025 16:00:06 +0000 hyperscalers https://minutesof.com/q/938cd181-af77-4e91-8b8c-200ec3fdf886/ https://minutesof.com/q/938cd181-af77-4e91-8b8c-200ec3fdf886/ “And so those are probably less likely to be able to succeed versus those who are locking in these massive deals with or long term deals that may not be massive but with enterprises or with AI labs, or with the hyperscalers who have no capacity because the demand is just so incredible.” — Dylan Patel, Open Compute Project Thu, 23 Oct 2025 06:01:45 +0000 hyperscalers https://minutesof.com/q/b3245cbb-ccb0-4af1-8480-c9d4f7170c7d/ https://minutesof.com/q/b3245cbb-ccb0-4af1-8480-c9d4f7170c7d/ “The consensus for the banks is $360,000,000,000 of spend next year across all of them. And my number is closer to, like it's, like, $45,500.” — Dylan Patel, a16z Mon, 22 Sep 2025 13:01:51 +0000 hyperscalers https://minutesof.com/q/899389ab-537c-4e0e-abdb-7bac077b2ac1/ https://minutesof.com/q/899389ab-537c-4e0e-abdb-7bac077b2ac1/ “Microsoft derivatively is supporting ChatGPT as is Oracle and CoreWeave on this slide. Amazon doesn't really have a big consumer application, right?” — Bill Gurley, BG2 Pod Fri, 20 Jun 2025 00:11:39 +0000 hyperscalers https://minutesof.com/q/4f8c1afb-2ba0-475b-98df-5a501781f6e4/ https://minutesof.com/q/4f8c1afb-2ba0-475b-98df-5a501781f6e4/ “What's what's funny is there was a customer that had more than 10,000 GPUs with you. They got acquired. They had to start using some clusters at their acquiring company, the company that acquired them.” — Dylan Patel, CoreWeave Fri, 23 May 2025 17:27:49 +0000 hyperscalers https://minutesof.com/q/fbed374a-9a4e-4927-8341-d57bb4e923a3/ https://minutesof.com/q/fbed374a-9a4e-4927-8341-d57bb4e923a3/ “Even if they even if they had the electrical equipment in in you know, not on lead time, they paid a bunch to skip the queue.” — Dylan Patel, CoreWeave Fri, 23 May 2025 17:27:49 +0000 hyperscalers https://minutesof.com/q/c2e290f0-d29d-46af-b1bb-46bc871b30f2/ https://minutesof.com/q/c2e290f0-d29d-46af-b1bb-46bc871b30f2/ “Get services online with h one hundreds before every hyperscaler by a factor of, like, as much as, like, six months in many cases.” — Dylan Patel, CoreWeave Fri, 23 May 2025 17:27:49 +0000 hyperscalers https://minutesof.com/q/b9f3e38a-33ab-4cfa-8322-55a0ed1bc5ec/ https://minutesof.com/q/b9f3e38a-33ab-4cfa-8322-55a0ed1bc5ec/ “So, like, it's, like, Microsoft, Meta, Amazon, Google. Right? These four companies have, you know you know, 70 plus percent of their data center AI data center capacity in The US.” — Dylan Patel, Unsupervised Learning: With Jacob Effron Tue, 21 Jan 2025 14:00:12 +0000 hyperscalers https://minutesof.com/q/c4005777-b6ad-4670-bcaf-ceb3ab21315d/ https://minutesof.com/q/c4005777-b6ad-4670-bcaf-ceb3ab21315d/ “Why is Microsoft building multiple gigawatt data centers plus buying billions and billions of dollars of fiber to connect them together because they think, hey.” — Bill Gurley, Bg2 Pod Mon, 23 Dec 2024 20:25:20 +0000 hyperscalers https://minutesof.com/q/075fb7fa-7e85-45f7-a574-720f900c7136/ https://minutesof.com/q/075fb7fa-7e85-45f7-a574-720f900c7136/ “Why is why is Amazon building these multi gigawatt data centers? Why is Google? Why is Microsoft building multiple gigawatt data centers plus buying billions and billions of dollars of fiber to connect them together” — Bill Gurley, Bg2 Pod Mon, 23 Dec 2024 20:25:20 +0000 hyperscalers https://minutesof.com/q/0bf3507f-9deb-4dce-a5e2-5e9d21d5e7a3/ https://minutesof.com/q/0bf3507f-9deb-4dce-a5e2-5e9d21d5e7a3/ “In 2020, Morgan Stanley estimates that about $2,000,000,000 was spent on the carbon offset market, and by 2030 they expect that to be $100,000,000,000 by these large hyperscalers that have to buy these massive carbon offsets.” — Brad Gerstner, BG2 Pod Wed, 25 Sep 2024 16:21:38 +0000 hyperscalers https://minutesof.com/q/67d325ec-bd6b-4e04-8475-98a37dd44792/ https://minutesof.com/q/67d325ec-bd6b-4e04-8475-98a37dd44792/ “if the hyperscalers become part of the customer set for the nuclear startups that may be like 10x better than selling just to utilities alone.” — Bill Gurley, BG2 Pod Wed, 25 Sep 2024 16:21:38 +0000 hyperscalers https://minutesof.com/q/a2662d7b-fc56-4e1f-a2a2-3f0111e20029/ https://minutesof.com/q/a2662d7b-fc56-4e1f-a2a2-3f0111e20029/ “Amazon is buying this nuclear powered Talon data center facility, and now Microsoft this week announces with CEG that they're going to bring 3 Mile Island out of retirement.” — Brad Gerstner, BG2 Pod Wed, 25 Sep 2024 16:21:38 +0000 hyperscalers https://minutesof.com/q/87f2bdd7-b1c0-4af8-836a-2b8fcf3ab06b/ https://minutesof.com/q/87f2bdd7-b1c0-4af8-836a-2b8fcf3ab06b/ “I could imagine if you had four more reactors sitting here, right, if you could land them at the right price, you could have one reactor for Meta, one for Amazon, one for Microsoft, one for Nvidia, you could have the data center sitting right next to them.” — Brad Gerstner, BG2 Pod Mon, 09 Sep 2024 02:12:29 +0000 hyperscalers https://minutesof.com/q/743c4b3d-d172-40cc-bd69-aa8649d5a14e/ https://minutesof.com/q/743c4b3d-d172-40cc-bd69-aa8649d5a14e/ “In fact, I think if people are gonna be critical of anything, a lot of people are looking at the total CapEx of the hyperscalers now at $200,000,000,000 and saying, when are you gonna get a return on the dollars that you're spending?” — Bill Gurley, Bg2 Pod Mon, 10 Jun 2024 14:22:07 +0000 hyperscalers https://minutesof.com/q/c6673b2c-4f7d-4be3-a26b-32b0ca5b9b66/ https://minutesof.com/q/c6673b2c-4f7d-4be3-a26b-32b0ca5b9b66/ “In fact, I think if people are gonna be critical of anything, a lot of people are looking at the total CapEx of the hyperscalers now at $200,000,000,000 and saying, when are you gonna get a return on the dollars that you're spending?” — Brad Gerstner, BG2 Pod Mon, 10 Jun 2024 13:40:00 +0000 hyperscalers https://minutesof.com/q/f8a5c499-b5b2-4e62-991a-daea301a4510/ https://minutesof.com/q/f8a5c499-b5b2-4e62-991a-daea301a4510/ “In the quarter, if you aggregate the hyperscalers together, we added over $15,000,000,000 in ARR. That's annual recurring revenue, the single largest quarter in the history” — Brad Gerstner, CNBC Television Fri, 02 Feb 2024 18:00:57 +0000 hyperscalers