Hot Seat with Michael Elias: Data Center Demand and AI Growth

avr. 03, 2026 - 1 minute 21 seconds

What Is Your Take on Data Center Demand and AI Growth?

In the Hot Seat, Michael Elias explains why near-term concerns about slowing data center capital spending may be misplaced. Hyperscaler CapEx reflects procurement decisions made about two years earlier, while underlying demand is accelerating. As AI labs pursue more applications and computing power, the need for data centers—and higher CapEx—continues to grow, driven by the belief that more compute delivers greater intelligence.

Hot Seat is our new TD Cowen analyst series delivering candid, plain language insights on trending topics. Stay tuned for new episodes of TD Cowen Hot Seat


Portrait of Michael Elias



Directeur général et analyste de recherche, Technologies, Médias et Télécommunications, Infrastructure de communications, TD Cowen