Overview
- Unveiled at Web Summit in Lisbon, the analysis replaces Accel’s Euroscape with a global lens on AI and cloud markets.
- A “Super Six” of Nvidia, Microsoft, Apple, Alphabet, Amazon, and Meta now makes up roughly half of the Nasdaq after a $4.9 trillion market-cap gain year over year.
- Hyperscalers generated about $600 billion in operating cash flow in 2024 and could produce $5.5 trillion from 2026 to 2030, positioning them to finance the build alongside debt markets.
- Accel estimates about $4 trillion of capex over the next five years and an energy requirement comparable to powering the U.K., Italy, and Spain combined.
- Public cloud valuations rose 25% year over year as vendors add agentic capabilities, while Europe and Israel drew roughly 66% of U.S. app funding and AI‑native startups reached scale at unprecedented speed.