Hyperscaler and neocloud AI spending projected at $1.58 trillion in 2027, counting leases as capex

A post says Morgan Stanley puts 2027 hyperscaler and neocloud AI spending at $1.58 trillion when data-center leases are counted as capex. It says about $1.03 trillion would flow to S&P 500 companies, including roughly $690 billion to Nvidia, while about $550 billion would go outside the index. The post identifies GPU-rental neoclouds funding builds through project debt and convertibles as most exposed to financing costs during a projected peak cash shortfall in 2027.