AI Capacity Tracker

How it's built

Sellable and self-use AI critical-IT megawatts across the pure-play GPU clouds, the ex-bitcoin-miners pivoting into AI colocation, and the hyperscalers — what each is worth per megawatt, who its customers are, and when the capacity arrives. MW numbers are hand-curated from filings. Market cap ≠ megawatts — the gap is the whole point.

Hyperscaler net debt is funded-debt basis (most run net cash; finance leases and off-balance-sheet SPV debt excluded — see each row's note); neocloud net debt includes finance leases where disclosed.