Cloud & Capital · Market Tape
Market Tape is strategic decision support for technology-finance review. It connects public-market conditions, cloud benchmarks, and major AI infrastructure announcements without turning them into individualized investment advice or workload-level operating mandates.
The tracked universe is the set of instruments published across the dashboard's market, macro, sector, and global views. The broader screened universe supplies the momentum leaderboard; only its five leaders and five laggards are displayed.
The upstream pipeline is scheduled to check for new data every 30 minutes during its weekday window, though GitHub Actions may delay or skip scheduled runs. On weekends and market holidays, the timestamp identifies the latest completed US trading session—not the page view, build, or deployment time.
The 0–100 exposure score combines trend, breadth, momentum, volatility, and risk inputs from the upstream pipeline. Lower readings are Defensive, 40–60 is Hold/Neutral, and higher readings are Risk-On. These bands frame review priorities; they do not prescribe a portfolio allocation or cloud purchase.
Prices, momentum scores, sector rotation, and macro indicators are fetched from yFinance via a data pipeline scheduled to check every 30 minutes during weekday market hours and publishes to github.com/cloudandcapital/market-tape. Pipeline runs may publish a timestamp-only snapshot commit even when market values are unchanged. The frontend revalidates against the latest published snapshot every 30 minutes.
Macro & Market Internals
SPY, ^VIX, TLT, HYG, GLD, USO, IWM, QQQ, DXY — prices, 1M relative strength, trend grades, breadth metrics
US Sector ETFs
XLK, XLF, XLV, XLE, XLI, XLY, XLP, XLU, XLB, XLRE, XLC — ranked by 1-month relative strength vs SPY
Valuation Multiples (live approximations)
Approximate NTM P/S computed as: TTM P/S ÷ (1 + trailing revenue growth). Equal-weighted median across each basket. Labeled with ~ to communicate approximation. Sourced from Yahoo Finance with the same 30-minute cache as the rest of the pipeline.
Public Cloud hyperscaler basket
AMZN · MSFT · GOOGL · ORCL
Blended corporate P/S — AWS, Azure, and GCP are segments within these companies, not isolated. Treat as a proxy.
SaaS basket (representative BVP Cloud Index names)
CRM · NOW · SNOW · DDOG · ZS · HUBS · WDAY · VEEV
Eight liquid names from the BVP Nasdaq Emerging Cloud Index. Not the full index; WCLD ETF is the closest tradeable equivalent.
AI infrastructure semiconductor basket
NVDA · AVGO · AMD · MU · MRVL · CBRS
Semiconductor and AI hardware names. Dominated by NVDA; results are sensitive to NVDA revenue forecasts. CBRS (Cerebras, IPO May 2026) added Jun 2026 — wafer-scale inference chips, extreme P/S outlier; median calculation isolates it from distorting the basket.
This major-deal tracker is compiled manually from public announcements and press releases. Each row is sourced and classified individually: Signed means an executed agreement is confirmed; Announced means the parties publicly described a deal or partnership without equivalent confirmation of execution; Target means a planned capacity or investment goal; and Reported / in talks means a negotiation or third-party report that is not a completed commitment. Dollar values and capacity are not aggregated across unlike statuses or agreement types. The signed-dollar headline includes only structured, company-disclosed, comparable signed compute/cloud-service values; equity and reported or estimated figures are excluded. The data is static until a material update — source code at lib/aiCompute.ts.
Anthropic — AWS (Trainium / Inferentia)
Signed · compute/cloud service · value: $100B+ (company-disclosed) · capacity: Up to 5 GW (company-disclosed) · 10 years · announced Apr 2026
Anthropic — Google Cloud / TPU (Broadcom)
Signed · compute/cloud service · value: Undisclosed (undisclosed) · capacity: Multiple gigawatts (company-disclosed) · Deployment starts 2027 · announced Apr 2026
The primary does not disclose the previously shown $200B, 3.5 GW, or five-year term, so those figures have been removed.
Anthropic — xAI / SpaceX (Colossus 1)
Reported / in talks · compute/cloud service · value: ~$40B reported (reported) · capacity: 300 MW / 220K+ GPUs reported (reported) · 3 years reported · announced May 20, 2026
Anthropic — AMD (Instinct MI450 / Helios)
Announced · hardware/chip partnership · value: Undisclosed (undisclosed) · capacity: Up to 2 GW (company-disclosed) · Starts H1 2027 · announced Jul 22, 2026
The potential $5B equity investment is displayed separately and is not compute procurement.
Anthropic — Volta (Norway project)
Reported / in talks · compute/cloud service · value: ~$10B reported (reported) · capacity: ~133 MW reported (reported) · 6 years reported · announced Aug 4, 2026
No first-party source publicly naming Anthropic was found; every figure is reported.
OpenAI — Stargate (Oracle, SoftBank, partners)
Target · infrastructure target · value: Undisclosed current value (undisclosed) · capacity: Original 10 GW goal surpassed (company-disclosed) · Ongoing · announced Jan 2025 (current update 2026)
The 10 GW figure is retained only as the surpassed historical goal, not current capacity.
OpenAI — NVIDIA (Vera Rubin)
Signed · hardware/chip partnership · value: Undisclosed (undisclosed) · capacity: 3 GW dedicated inference + 2 GW training (company-disclosed) · — · announced Feb 27, 2026
OpenAI directly reports securing 3 GW of dedicated inference capacity and 2 GW of training capacity on NVIDIA Vera Rubin systems; compute dollar value is undisclosed. NVIDIA's $30B equity stake in OpenAI (part of the $110B Feb 2026 funding round) is classified separately and does not enter the compute total.
Meta — NVIDIA (Blackwell + Vera Rubin + Grace)
Announced · hardware/chip partnership · value: Undisclosed (undisclosed) · capacity: Millions of Blackwell and Rubin GPUs (company-disclosed) · Multiyear · announced Feb 2026
This hardware supply layer is distinct from Meta cloud-service contracts; the infrastructure descriptions are not additive.
Meta — AMD (Instinct MI450+)
Signed · hardware/chip partnership · value: Undisclosed (undisclosed) · capacity: Up to 6 GW (company-disclosed) · Multiyear · announced Feb 24, 2026
Meta — Amazon (Graviton)
Signed · compute/cloud service · value: Undisclosed (undisclosed) · capacity: Tens of millions of Graviton cores (company-disclosed) · Multiyear · announced 2026
Meta — CoreWeave (Vera Rubin)
Signed · compute/cloud service · value: ~$21B (company-disclosed) · capacity: AI cloud capacity; no comparable GW disclosed (undisclosed) · Through Dec 2032 · announced Apr 9, 2026
Cloud-service contract using NVIDIA systems; distinct from Meta–NVIDIA’s hardware partnership and not additive at the infrastructure layer.
Jane Street — CoreWeave
Signed · compute/cloud service · value: ~$6B (company-disclosed) · capacity: Undisclosed (undisclosed) · Undisclosed · announced Apr 15, 2026
OpenAI — Cerebras Systems
Announced · compute/cloud service · value: Undisclosed (undisclosed) · capacity: 750 MW (company-disclosed) · Through 2028 · announced Jan 14, 2026
OpenAI — SB Energy / NVIDIA (PORTS-Pike, Ohio)
Signed · compute/cloud service · value: Undisclosed (undisclosed) · capacity: 4.25 IT-GW initial; approximately 3.75–3.8 IT-GW optional; OpenAI describes the overall agreement as approximately 8 IT-GW (company-disclosed) · 20-year lease, phased availability beginning 2028 · announced Aug 17, 2026
NVIDIA's $105B figure is a conditional residual-value guarantee, not compute value or committed spend; it is not reflected in the compute value field. NVIDIA's $1.5B investment in SB Energy is a separate equity transaction. This row is not merged into the existing OpenAI–NVIDIA Vera Rubin row because overlap between the two agreements has not been ruled out.
Google — SpaceX / xAI
Reported / in talks · compute/cloud service · value: ~$30B reported (reported) · capacity: Undisclosed (undisclosed) · 32 months reported · announced Jun 5, 2026
Slow-moving external statistics maintained manually in lib/industryBenchmarks.ts. Each entry records its last update, next review date, and review cadence. The automated freshness check warns within 14 days of a due date and fails once a benchmark is overdue. Run npm run check-benchmarks to see current freshness status.
Updated Aug 23, 2026 · Next review Sep 23, 2026 · monthly
August 21, 2026 dedicated comparisons: H100 $2.19–$10.98/GPU-hour and widely available (upper bound revised from $11.06); H200 $3.99–$10.85 (unchanged); B200 $5.99–$16.11 and extremely limited/supply-constrained (lower bound revised from $5.91). Provider, commitment, and configuration differences make rental ranges non-comparable to hardware purchase prices. NVIDIA is retained separately only for NVIDIA-specific supply commentary. B200 access remains constrained or waitlisted; TSMC CoWoS capacity relief not expected until Q4 2026 at earliest.
Updated Jul 6, 2026 · Next review Nov 1, 2026 · semi-annual
CBRE H2 2025 reported absorption of 2,497.6 MW vs 1,809.5 MW in 2024 (+38%) and construction pipeline of 5,994.4 MW vs 6,350.1 MW in 2024 (-5.6%, first decline since 2020). Story = demand outpacing supply, not construction boom. Q1 2026 supplement (CBRE Global Data Center Trends 2026): Northern Virginia absorbed 1,148.3 MW in Q1 alone — largest single quarter since CBRE began this report in 2023 — with vacancy at an all-time low of 0.3%. Dallas-Ft. Worth is now the 3rd-largest US market (+43.7% inventory growth in Q1). Power availability flagged as the #1 industry challenge for the third consecutive year. Value/numeric fields retain the H2 2025 YoY baseline; next full refresh after H1 2026 CBRE report (est. Nov 2026).
Updated Apr 24, 2026 · Next review Nov 1, 2026 · semi-annual
Peak NTM revenue multiple reached by the SaaS cohort during the 2021 bull market. Used as a compressed-from reference point. This is a historical data point and will not change. Review cadence is semi-annual only to confirm the narrative framing is still accurate.
Updated Aug 2, 2026 · Next review Nov 1, 2026 · quarterly
Full-year 2026 guidance after Q2 earnings: Amazon approximately $220B, raised from approximately $200B; Microsoft approximately $175B, nominally reduced from approximately $190B because more data center leases are classified as operating leases, while management said underlying investment expectations are unchanged; Alphabet $195–205B, raised from $180–190B; Meta $130–145B, narrowed from $125–145B. Primary references: Amazon Q2 2026 earnings call (Amazon IR); Microsoft FY26 Q4 earnings call (Microsoft Investor Relations); Alphabet Q2 2026 earnings call (Alphabet Investor Relations); Meta Q2 2026 results (Meta Investor Relations). Values: Expanding / Stable / Contracting. Recheck after the Q3 earnings cycle around November 2026.
Updated May 25, 2026 · Next review Aug 26, 2026 · quarterly
NVIDIA Q1 FY2027 (quarter ended April 2026, reported May 20–22 2026). Total revenue $81.6B (+85% YoY). Data center segment $75.2B (+92% YoY, +21% QoQ) — the primary demand signal for hyperscaler AI CapEx flowing through to silicon. Data center networking (InfiniBand + Ethernet for AI) $14.8B (+199% YoY). Q2 FY2027 guidance ~$91B total. Refresh after each NVIDIA earnings call (next: ~Aug 2026).
Lumen is an AI-generated synthesis of the market data and sourced benchmarks displayed on Market Tape. Its role is to surface relationships and review priorities, not to create new facts. Completed analysis is shared within the market-data refresh window so visitors see a consistent reading of the same snapshot.
Market Tape provides strategic context, not individualized investment, financial, tax, procurement, or workload advice. Organization-specific decisions still require workload demand, utilization, contract terms, risk tolerance, and business priorities. Data may be delayed, revised, approximate, or temporarily unavailable; follow the linked primary sources before acting on a benchmark or announcement.