Technology · 10.3

Cloud Services & Data Centres

Quantified news impact based on deduplicated, quality-reviewed events in a single 200-day window.

Average net impact+29weighted per event

Average gross impact35absolute weighted average

Events61same period

Confidence76%model average

Raw intensity63before weighting

Previous period0net impact

Gross changeInsufficient base

Diffusion speed0.3 / day

Concentration2%

Direction disagreement18%

Source independence97%23 sources

IMPACT TREND

200-day effective impact

Positive 52 · Negative 6 · Mixed 3

+290-29

16 Jan0 events

1 Feb0 events

18 Feb0 events

7 Mar0 events

23 Mar0 events

9 Apr0 events

26 Apr0 events

12 May0 events

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15 Jun0 events

1 Jul0 events

+29

18 Jul61 events

Current periodPrevious period

TIME HORIZON

Impact duration

Immediate3%68 cumulative effective impact

Short term23%492 cumulative effective impact

Medium term64%1386 cumulative effective impact

Long term10%206 cumulative effective impact

CO-IMPACT

Related industries

EVENT EVIDENCE

Events ranked by effective impact

Page 1 of 7 · 61 events

Macro4

Macro30 Jul, 15:17positive

China’s ‘Six Networks’ Build-Out Gains Pace, Multi-Network Coordination Bolsters Investment to Expand Domestic

China’s National Development and Reform Commission detailed progress on the 'Six Networks'—water, electricity, computing, communications, urban underground pipelines and logistics—and announced heightened multi-network coordination to boost effective investment and expand domestic demand. In 2026, over RMB7 trillion will be invested in these networks and key areas. During the 15th Five-Year Plan period, investment in new-type power grids and underground pipelines is projected at around RMB5 trillion each, and computing network direct investment will add RMB4 trillion. In the first half, private capital into water network construction exceeded RMB10.8 billion, up 85.8% year-on-year.

Effective: +71
Intensity: 88
Confidence: 90%
Horizon: Long term

Macro31 Jul, 12:01positive

NDRC to Accelerate AI Law Legislation, National AI Computing Power Surges 2.8-Fold

China's National Development and Reform Commission (NDRC) announced plans to accelerate the legislative process for an artificial intelligence law, aiming to establish a key institutional framework and provide a distinctive AI governance approach. As of the end of June 2026, the national AI computing power scale had reached 2.8 times that of the same period in 2025, with AI-related industries expanding by over 30%. The NDRC emphasized the need for risk monitoring and human-centered development. Additionally, estimates indicate that the computing network during the 15th Five-Year Plan period will attract RMB 4 trillion in direct investment.

Effective: +63
Intensity: 85
Confidence: 90%
Horizon: Medium term

Macro31 Jul, 10:32positive

15th Five-Year Plan Computing Power Network to See 4 Trillion Yuan in New Direct Investment, Huge Potential

NDRC spokesperson Jiang Yi said on July 31 that institutions estimate the 15th Five-Year Plan period will bring RMB 4 trillion in new direct investment for computing power network construction. As corporate investment dominates, this creates significant opportunities for private capital. The NDRC will enhance planning and factor guarantees to foster a favorable environment for private investment.

Effective: +63
Intensity: 90
Confidence: 85%
Horizon: Long term

Macro29 Jul, 06:52positive

New Infrastructure Hits RMB2.98 Trillion in H1 2026; Intelligent Computing Up 177%, 5G Stations Top 5.05

China’s new infrastructure drive maintained steady momentum in the first half of 2026, with the core industry scale reaching RMB2.98 trillion. Intelligent computing power surged 177% to 2,185 EFLOPS, while 5G base stations topped 5.05 million and the 5G-A network covered 330 cities. Technology-oriented loans rose sharply, and credit tilted toward the sector. Listed new infrastructure companies’ combined net profit jumped over 59%, with computing and data infrastructure profits more than doubling. The government advanced low-orbit satellite constellation deployment, drone airspace mapping, and granted 6 GHz spectrum for 6G trials.

Effective: +58
Intensity: 80
Confidence: 85%
Horizon: Medium term

Industries1

Industries28 Jul, 04:49positive

SoftBank Group builds US AI data centre; OpenAI considers tenancy and negotiates $250 billion Nvidia credit

SoftBank Group is building a large-scale AI data centre in the US state of Ohio, with construction set to start this year as part of a $500 billion Japan–US investment. OpenAI is considering a tenancy and is in discussions with Nvidia for a credit guarantee of roughly $250 billion (¥40 trillion) to sign a lease and cover facility-construction debt. The guarantee would make it easier for the unprofitable, privately held AI company to access bank financing.

Effective: +70
Intensity: 92
Confidence: 88%
Horizon: Medium term

Companies4

Companies28 Jul, 15:29positive

Nvidia Signs Up to $50 Billion Data Center Lease, Deploying Hundreds of Thousands of GPUs in Texas

Nvidia has signed a lease for Hut 8's Beacon Point campus in Texas, with a 1-gigawatt capacity and hundreds of thousands of its GPUs. The 15-year base lease is valued at $19.6 billion, with a potential 30-year total of $50.2 billion if all renewal options are exercised. Nvidia's credit default swap spread widened amid reports of large financing deals. The company's unpaid data center lease payments reached $32.4 billion in its latest quarter, up from $7.4 billion in the same period of 2025.

Effective: +62
Intensity: 85
Confidence: 90%
Horizon: Medium term

Companies27 Jul, 13:24positive

Baidu Q1 Revenue 32.1 Billion Yuan, Net Profit Down 55%, AI Share Rises to 52%

Baidu reported Q1 2026 total revenue of RMB 32.1 billion, down 1.16% year-on-year, with net profit attributable to shareholders falling 55.36% to RMB 3.445 billion. AI business revenue as a share of general business rose to 52% from 43% in Q4 2025, driven by intelligent cloud revenue of RMB 8.8 billion, up 79%. Traditional online marketing revenue declined 22% to RMB 12.6 billion. Apollo Go provided 3.2 million fully driverless rides, with total orders up over 120%. Kunlun Chip began its STAR Market listing process in May 2026.

Effective: +58
Intensity: 85
Confidence: 92%
Horizon: Medium term

Companies1 Aug, 12:32positive

Amazon Completes $50 Billion Investment in OpenAI for 5% Stake

Amazon has completed a $50 billion investment in OpenAI, securing an approximately 5% stake. The phased deal, disclosed in Amazon’s July 31 10-Q filing, comprised $15 billion in first-quarter 2026 Series C preferred shares, $13.7 billion in the second quarter, and a final $21.3 billion after the reporting period. The investment followed OpenAI and Microsoft renegotiating their cloud contract, allowing AWS to supply compute services. Amazon has also committed up to $33 billion to Anthropic, with $18 billion funded. OpenAI’s valuation is about $852 billion.

Effective: +57
Intensity: 80
Confidence: 85%
Horizon: Medium term

Companies30 Jul, 17:15positive

Microsoft Q2 2026: $130 billion new data center leases, Azure revenue $39.3 billion

Microsoft reported Q2 2026 results, adding over $130 billion in new data center lease contracts, raising total commitments to $329.1 billion. Azure revenue grew 32% to $39.3 billion, contributing to total revenue of $90 billion, up 18%. Net income rose 31% to $35.8 billion, including a $3.2 billion gain from its Anthropic stake. Capital expenditure reached $41 billion, up 70%. Microsoft maintained full-year capex guidance, adjusted to $175 billion due to accounting changes. OpenAI contributed $24.1 billion in revenue over the past year. Contract backlog increased to $678 billion.

Effective: +56
Intensity: 80
Confidence: 85%
Horizon: Medium term