AI Markets Are Mis-Pricing Capacity As Profit The Scarce Asset Is Not The Model

(MENAFN- ValueWalk) With five major cloud operators expected to spend $1.2 trillion on artificial intelligence infrastructure in 2027, New Constructs says investors should separate purchased compute capacity from profit. Compute capacity can create an advantage, but only when it produces measurable customer value, sustainable cash flow, and returns that justify market expectations.

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AI Capacity Buildout Is Not A Moat The Scarce Asset Is Not The Model Data Moats Still Have To Earn Their Valuation

(Nashville, TN) September 1st, 2026 – Morgan Stanley estimated that a small group of the world's largest cloud operators could spend $1.2 trillion on AI infrastructure next year. But David Trainer, CEO of New Constructs, a financial technology firm specializing in fundamental investment research and valuation analysis, argues that the market is still asking the wrong question: not who is building the most AI capacity, but who owns the...

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