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L10

Hyperscalers

Cloud infrastructure giants that are the largest buyers of AI accelerators, networking gear, and custom silicon. Their capex cycles drive demand across the entire semiconductor supply chain.

peak
HYPOTHESIS

Hyperscaler capex is the primary demand signal for AI chips (NVDA, AMD) and networking (AVGO, MRVL). When hyperscalers pull back, the entire AI supply chain feels it.

CAPITAL CYCLE
Capex/Depreciation: 2.2x

Massive AI infrastructure buildout ongoing. Capex/D&A elevated as data center expansion accelerates.

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BETA SPY
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BETA SOXX
5
CONSTITUENTS
5
OPTIONS ELIGIBLE
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INTRA-LAYER CORRELATION

Single constituent — intra-layer correlation not applicable.

CONSTITUENTS
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TICKERCOMPANYLASTCHG%β SPYβ SOXXSIGNALSTAGS
GOOGL
Alphabet Inc.
Parent company of Google. Major cloud provider (GCP) and AI infrastructure investor. Develops custom...
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OPTIONS
ai_infrastructure
META
Meta Platforms
Social media and metaverse company with massive AI infrastructure investments. Building custom MTIA ...
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OPTIONS
ai_infrastructure
AMZN
Amazon.com
E-commerce and cloud giant. AWS is the largest cloud provider globally. Develops custom Graviton (CP...
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OPTIONS
ai_infrastructure
MSFT
Microsoft
Cloud and software giant. Azure is the second-largest cloud provider. Major investor in OpenAI and A...
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OPTIONS
ai_infrastructure
ORCL
Oracle
Enterprise software and cloud infrastructure company. Oracle Cloud Infrastructure (OCI) is rapidly e...
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OPTIONS
ai_infrastructure
SEMILENS v0.1 · Data via Tradier Production API · Not financial adviceBeta research: 5Y daily · Loading...