There is a number going around tech right now that I genuinely cannot fit in my head. Amazon, Microsoft, Google and Meta plan to spend somewhere around $725 billion on capital expenditure in 2026. Most of that is data centers, chips, and the power to run them. That figure is up roughly 77 percent from about $410 billion the year before, based on earnings figures compiled by the Financial Times. Read that again. It is not a plan for the decade. It is one year. I want to walk through wh...