[whatever1]

If the hyperscalers demand is persistent, more hardware players will notice and will want a piece of the pie. You already see non traditional players entering.

But what you see is a cautious strategy from the existing players. They are hedging against a bubble. They don’t want to pour today tens of billions of dollars in capacity that they will have to sell it to a deflated market

[fnordpiglet]

I’ll wager $5 semiconductor companies are issuing stock to fund capital investment because that’s what you do when these things happen.