Data centres & compute
The companies building and filling data centres, read through their capital spending, the power and equipment they depend on, the rules that govern connection to the grid, and where US server imports come from.
- Companies covered
- 12
- Latest quarter filed
- Sep 30, 2026
- SEC filings, last 30 days
- 11
- Comment periods open
- 0
- SEC EDGAR read
- 22:46 UTC, Oct 23
The numbers
US government series, latest print and the change on a year earlier · Federal Reserve Bank of St. Louis (FRED)New orders, computers and electronics
30.9
$ billion a month
+16.5% on a year earlier
Aug 2026 · FRED A34SNO
US output, computers and electronics
139.6
index, 2017 = 100
+9.5% on a year earlier
Sep 2026 · FRED IPG334S
Ninety days of filings
Every SEC filing by the companies below, one row each · move across to read a dayFri, Oct 23, 2026
No filings by the covered companies
Jul 26 to Oct 23 · 48 filings, 4 in the last seven days · SEC EDGAR. Tall: quarterly and annual reports. Middle: current reports (8-K). Short: other forms. Red: an 8-K item that says something went wrong.
What changed
Filings by the companies below, last 30 days · SEC EDGAR- Oct 22Meta · 10-QQuarterly report
- Oct 21Dell Technologies · 8-KDirector or officer change
- Oct 21Meta · 8-KSigned a material agreement; Quarterly results; more
- Oct 20Super Micro Computer · 8-KQuarterly results
- Oct 15Super Micro Computer · 8-KDirector or officer change
- Oct 9Digital Realty · 8-KSigned a material agreement; Took on a debt obligation
- Oct 8Super Micro Computer · 8-KDirector or officer change
- Oct 6Digital Realty · 8-KInvestor disclosure; Other material event
- Oct 6Digital Realty · 8-KSigned a material agreement; Took on a debt obligation; more
- Oct 6Digital Realty · 8-KOther material event
- Sep 24Vertiv · 8-KInvestor disclosure
Rules and notices
Federal Register, last 45 daysNo rule, proposed rule or notice for this industry in the last 45 days.
Matched by title against the industry’s terms; paperwork renewals and meeting notices left out · read 22:03 UTC, Oct 23
Who is exposed
Trailing twelve months to each company’s latest quarter, from its own XBRL filings · SEC EDGAR| Company | Quarter to | Revenue | Growth | Gross margin | Op. margin | Capex / revenue | Capex growth | Inventory days | Backlog |
|---|---|---|---|---|---|---|---|---|---|
| Microsoft MSFTCloud operator | Jun 30, 2026 | $332B | +17.8% | 67.9% | 46.8% | 34.9% | +79.6% | 5 | $684B+82.4% |
| Amazon AMZNCloud operator | Jun 30, 2026 | $776B | +15.8% | 50.8% | 12.1% | 22.3% | +60.7% | 36 | — |
| Alphabet GOOGLCloud operator | Jun 30, 2026 | $446B | +20.1% | 60.9% | 33.1% | 29.7% | +97.7% | 21 | $520B+380.1% |
| Meta METAAI data-centre builder | Sep 30, 2026 | $242B | +27.5% | 81.0% | 32.9% | 43.2% | +66.5% | — | — |
| Oracle ORCLCloud operator | Aug 31, 2026 | $71.8B | +21.6% | — | 32.1% | 105.4% | +176.0% | — | $664B+45.8% |
| CoreWeave CRWVGPU cloud | Jun 30, 2026 | $7.6B | +115.3% | 67.4% | -3.0% | 271.0% | +139.9% | — | $104B+244.5% |
| Equinix EQIXData-centre landlord | Jun 30, 2026 | $9.8B | +9.6% | 51.5% | 21.8% | — | — | — | $15.0B+23.0% |
| Digital Realty DLRData-centre landlord | Mar 31, 2026 | $6.3B | +12.6% | — | 11.5% | — | — | — | — |
| Vertiv VRTPower and cooling equipment | Jun 30, 2026 | $11.5B | +26.2% | 38.0% | 18.9% | 3.7% | +137.6% | 129 | — |
| Arista Networks ANETData-centre networking | Jun 30, 2026 | $10.5B | +32.6% | 63.0% | 43.1% | 1.4% | +110.7% | 237 | — |
| Dell Technologies DELLServers | Jul 31, 2026 | $151B | +49.0% | 19.8% | 9.4% | 2.4% | +37.3% | 64 | $132B+200.0% |
| Super Micro Computer SMCIServers | Jun 30, 2026 | $39.1B | +77.8% | 10.8% | 7.1% | 0.4% | +27.3% | 135 | $2.6B+257.1% |
| Median of 12 with a current year | +23.9% | 56.2% | 20.4% | 26.0% |
Growth compares the latest twelve months with the twelve before. A quarter a company reports only inside a year-to-date total is the difference of the two totals it filed; a ratio is shown only when both sides cover the same four quarters. Backlog is remaining performance obligations, with its change on a year earlier. A dash means the company does not report that line.
What to watch
Comment deadlines and effective dates ahead · Federal RegisterNo comment period or effective date ahead among this industry’s documents of the last 150 days.
Where US supply comes from
US imports, Jul 2026 · UN Comtrade- HS 8471Computers and servers · $45.4B · +84.0% on a year earlierMexico 48% · Taiwan 25% · Thailand 11%
- HS 8473Computer parts · $20.2B · +219.6% on a year earlierTaiwan 30% · Vietnam 29% · South Korea 18%
- HS 8517Networking equipment · $18.2B · +62.7% on a year earlierVietnam 25% · Thailand 19% · India 19%