The analysis indicates that hyperscalers (such as Amazon, Microsoft, Google, and Meta Platforms) are projected to invest approximately $700 billion in capital expenditures by 2026, with about two-thirds of that allocated to AI infrastructure. NVIDIA, as an AI accelerator supplier, stands to directly benefit from the largest share of this spending. Micron, as a high-bandwidth memory (HBM) supplier, is an indispensable component of AI servers, and the HBM market is expected to grow from $35 billion in 2025 to $100 billion in 2028. Micron has already secured pricing and volume agreements for all its HBM products through 2026, but its revenue model is more leveraged than a direct share.