Social Graph VC: Chi tiêu vào cơ sở hạ tầng trung tâm dữ liệu sẽ vượt quá 1 nghìn tỷ USD vào năm 2026

The Huoxing Finance report states that venture capital firm Social Graph VC recently published an article on market entry calculations, estimating that data center capital expenditures will exceed $1 trillion in 2026, roughly double the 2025 spending of the four major hyperscale cloud providers. Jensen Huang anticipates annual spending could reach $3 to $4 trillion by the end of this decade, and possibly $10 trillion by 2031. AI investment currently accounts for approximately 0.9% of global GDP and is projected to rise to about 1.4% by 2028. The article notes that training power consumption for Fable 5 and GPT-5.6 is each below 2GW, with costs of approximately $120 billion. Each generation of models can break even on its own; laboratory losses stem from scaling up the next-generation models by a factor of 10. Computing cannot be purchased at a single price; the market rental rate for H100 is approximately $1.95/hour, while hyperscale cloud providers charge $8–9/hour, with hourly rates fluctuating by up to 137% annually. Of the $3 trillion in global data center spending projected through 2028, there exists a $1.5 trillion financing gap. The article also states that CME plans to list cash-settled monthly futures contracts for H100 and B200 on NYMEX on October 5, 2026, pending regulatory approval, with settlement referencing the Silicon Data Index; ICE has also announced GPU futures based on the Ornn Index.