CTP Capex and AI Spending Update

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- Leading cloud service providers have pledged ~$700B in capital expenditure for 2026.
- Stock prices have responded negatively as spending eats into cash flows and potential profits.
- The ware in the MIddle East adds to the complexity and risk.
- Telecom spending still taking a back seat to AI and cloud spending.

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CTP Capex and AI Spending Update

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