¹ Capital expenditure. The $720–745B range is the sum of the most recent 2026 capital-expenditure guidance from the four companies. They do not define capital expenditure identically, so this is an aggregate of reported guidance rather than a like-for-like measure.

Meta economic interest. Zuckerberg's economic-interest percentage is calculated from proxy-reported beneficial holdings and shares outstanding. Meta itself describes his economic interest as approximately 13%.

² Anthropic. Anthropic's governance page listed six directors when checked on September 9, 2026: Dario Amodei, Daniela Amodei, Yasmin Razavi, Reed Hastings, Chris Liddell and Vas Narasimhan. Anthropic has announced Long-Term Benefit Trust appointments for some of these seats but not all, and it did not announce Jay Kreps's departure from the board. How many occupied seats are held by Trust appointees is therefore not determinable from public disclosures. In April 2026 Anthropic described Trust appointees as holding a majority of a seven-member board.

Nvidia accelerator share. The >90% figure is an analyst estimate rather than a company-reported market statistic. No prior estimate with a sufficiently clear and comparable denominator is used to manufacture a trend.

³ TSMC foundry share. TrendForce's September 2026 release puts TSMC at 72.5% of global foundry revenue for Q2 2026, on revenue of about $40.2B, up 12.1% sequentially. Its June release put Q1 2026 at 72.0%; TrendForce's current dataset, as reported by CNA / Focus Taiwan and the Taipei Times, puts that quarter at 72.3%. The sequential growth rate implies TSMC's Q1 revenue is unchanged at about $35.9B, so the revision falls on TrendForce's estimate of total foundry revenue rather than on TSMC. This row uses the revised comparative, making the quarter-on-quarter increase 0.2 percentage points.

Market-share measures. TSMC and cloud-provider shares rely on independent market-research organizations because individual company filings cannot by themselves establish industry-wide market shares. Synergy reports the top-three cloud share at 63% in Q2 2026, unchanged from Q1, while the cloud infrastructure market grew 43% year over year.

⁴ Nvidia hyperscaler dependency. Nvidia reports Hyperscale revenue as a submarket of Data Center, covering the public clouds and the world's largest consumer internet companies. In Q2 FY2027 it reclassified a company from AI Clouds, Industrial, & Enterprise (ACIE) to Hyperscale due to a change in that company's business model and recast the prior period. Q1 FY2027 hyperscale revenue was first published as $37.9B of $75.2B in Data Center revenue, or 50.3%; on the current classification it is $43.1B of the same $75.2B, or 57.2%. The current-basis observations available are Q1 FY2026 at 56.9% (derived from six-month totals), Q2 FY2026 at 58.8%, Q1 FY2027 at 57.2% and Q2 FY2027 at 54.7%. Q3 and Q4 FY2026 have not been republished on this basis, so the quarterly series is discontinuous. The Q2 year-over-year comparison, 58.8% to 54.7%, is like-for-like. The reported Hyperscale category is also a floor on hyperscaler-linked end demand: Nvidia attributes part of ACIE growth to hyperscalers utilizing AI clouds.

Electricity. The IEA figure covers all data centers, not AI facilities alone. Its current central projection is roughly 950 TWh of global data-center electricity consumption by 2030. That projection provides context but does not determine the direction arrow.

Virginia NDAs. The 25-of-31 finding means researchers found at least one data-center-related NDA in 25 Virginia localities with an existing, approved, or proposed project. It does not mean that 25 projects were secretly approved or that the approvals themselves occurred “under” NDAs.

⁵ Political expenditures. The $53.9M figure is a secondary compilation of publicly disclosed independent expenditures across AI-linked federal and state political networks. It is not equivalent to money raised and should be treated as a publicly observable floor, not a comprehensive total of all political activity.