As global investment in AI data centers expands rapidly, NVIDIA is attempting to significantly shorten construction timelines with its DSX POD architecture, while the capital markets' response remains muted and developments such as Oracle's force majeure notice and a sharp rise in CoreWeave bond yields have also emerged.
Capital expenditure by the world's 9 largest cloud companies is expected to reach approximately $830 billion in 2026, representing projected growth of 79% from the same month a year earlier. Meanwhile, construction companies are facing pressure on cash flow and higher funding costs, leaving the industry's overall earnings reality unclear.
At GTC Berlin, NVIDIA announced its DSX POD architecture and outlined a plan to shorten the build period from 6 months to as little as 14 days by pre-modularizing Vera Rubin systems and transporting them to the site. This requires power supply, cooling, networking and other infrastructure to be in place at the site, with deliveries worldwide expected to begin in early 2027.
The capital markets' response has been limited. Although NVIDIA's share price rose on the day of the announcement, there were instances in which the effect was offset by a subsequent market-wide decline. Oracle issued a force majeure notice for the Jupiter project, while CoreWeave's bond yields temporarily rose to approximately 15.76%.
In Japan, subsidies and stricter energy-efficiency standards are being advanced, strengthening the power and design prerequisites for new data-center construction. The funding structure continues to be based on customers' long-term plans and the execution of lease agreements, and attention is focused on developments among key players, including NVIDIA.