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PaidMSFT2 min read

Cloud revenue and cloud capex are both growing, and the ratio is the story

Priya NairDemoMega-cap & AI capex

Both lines are rising quickly, which makes each look fine on its own. The ratio between them is what tells you whether the build is paying.

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The capex-to-revenue ratio I track by quarter, and the range I think is sustainable.

Priya Nair covers mega-cap & ai capex. Every call is captured from live market data — never self-reported.

46%
Win rate
-0.0%
Avg return
13
Closed calls

Verified over a rolling 30-day window. Past performance is not a reliable indicator of future results.

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The author holds no position in the instruments discussed. Opinion. Not advice. Not a financial promotion approved under FSMA s.21. Quote data is delayed. Past performance is not a reliable indicator of future results.