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It is currently unclear over what time period the $3 trillion will be spent or if it will be spent, as these are commitments and contracts that could theoretically be renegotiated. Todd Castagno, head of global valuation, accounting and tax at Morgan Stanley, noted that because this is a new market, questions remain regarding how these investments will pay off and how they will be financed.

Off-balance-sheet commitments are financial obligations that do not appear in a company's official tally of what it owns and owes; they are not official debt but rather an obligation to pay someone in the future. These commitments allow suppliers and data center developers to borrow against long-dated leases, guarantees, or purchase commitments from investment-grade hyperscalers to build capacity before payments are made or liabilities are recognized.

Google's commitments reached a total of $707 billion in the most recent quarter, a significant increase from $72.5 billion in all of 2025.

The hyperscalers have committed $1.1 trillion in payments for data center leases that have not yet begun, and all seven companies have agreed to $1.7 trillion in purchase commitments for items including chips, memory, and networking gear.

Nvidia is facing a squeeze due to surging demand for memory chips. The company noted that price increases in the memory space are exceeding expectations, which is expected to slightly shrink its margins for the coming year, though CFO Colette Kress characterized this as a "good problem" driven by the AI buildout.

CEO Jensen Huang stated that the other two drivers of AI demand are "sovereign AI" (countries building their own AI infrastructure) and the enterprise market (all other firms using AI).

Colette Kress announced that Amazon will be purchasing an additional 2 million chips.

Nvidia is buying back $19 billion in stock, which is more than the company did last year. In contrast, Alphabet repurchased zero shares in its most recent quarter.