ECONOMICS
CapEx burn, SEC filings, debt issuance, cloud commitments
29 cards on 14 tables, each drawn live from the table. Tables built 31 October 2026.
What is being spent
Capital spending against revenue, by year
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: $B
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "CapEx versus revenue", tokenrunner.ai/esper/economics/#data-gold_capex_revenue_combined, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
Capital spending by layer of the industry, by year
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: $B
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "CapEx versus revenue", tokenrunner.ai/esper/economics/#data-gold_capex_revenue_combined, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
What the five spent on plant and equipment
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: $B
OPEN ARTICLEThis table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "CapEx versus revenue", tokenrunner.ai/esper/economics/#data-gold_capex_revenue_combined, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
The twenty largest: spending and revenue by company, 2025
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: $B
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "CapEx versus revenue", tokenrunner.ai/esper/economics/#data-gold_capex_revenue_combined, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Data-centre construction in the Census count, by month
Source: U.S. Census Bureau, Construction Spending, Value of Private Construction Put in Place, seasonally adjusted annual rate, the August 2026 release of 1 October 2026.
Source and method
Source: U.S. Census Bureau, Construction Spending (C30), Value of Private Construction Put in Place, seasonally adjusted annual rate (privsatime.xlsx), the August 2026 release of 1 October 2026. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: The Census Bureau's own table (US government public record), read at source; the share is the one division Token Runner makes.
Unit: USD millions, seasonally adjusted annual rate; share in per cent
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Data-centre construction in the Census count", tokenrunner.ai/esper/economics/#data-gold_c30_datacenter, built 2026-10-28. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Data centres against factories: private construction, by month
Source: U.S. Census Bureau, Construction Spending, Value of Private Construction Put in Place, seasonally adjusted annual rate, the August 2026 release of 1 October 2026.
Source and method
Source: U.S. Census Bureau, Construction Spending (C30), Value of Private Construction Put in Place, seasonally adjusted annual rate (privsatime.xlsx), the August 2026 release of 1 October 2026. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: The Census Bureau's own table (US government public record), read at source; the share is the one division Token Runner makes.
Unit: USD millions, seasonally adjusted annual rate; share in per cent
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Data-centre construction in the Census count", tokenrunner.ai/esper/economics/#data-gold_c30_datacenter, built 2026-10-28. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
What added to growth: three lines of private investment, by quarter
Source: U.S. Bureau of Economic Analysis, National Income and Product Accounts, contributions to percent change in real GDP, read at source 27 October 2026.
Source and method
Source: U.S. Bureau of Economic Analysis, National Income and Product Accounts, contributions to percent change in real GDP (FRED series A009RY2Q224SBEA, Y034RY2Q224SBEA, Y001RY2Q224SBEA), read at source 27 October 2026. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: US government statistics (public domain), read at source from FRED's CSV by hand; each row carries its series and address.
Unit: percentage points of real GDP growth
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "What added to growth: three lines of private investment", tokenrunner.ai/esper/economics/#data-gold_gdp_contrib, built 2026-10-28. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
What it earns
What the five took in: revenue by year
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: $B
OPEN ARTICLEThis table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "CapEx versus revenue", tokenrunner.ai/esper/economics/#data-gold_capex_revenue_combined, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Revenue growth on the year before, by layer
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: $B
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "CapEx versus revenue", tokenrunner.ai/esper/economics/#data-gold_capex_revenue_combined, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Capital spending as a share of revenue, by layer
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: $B
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "CapEx versus revenue", tokenrunner.ai/esper/economics/#data-gold_capex_revenue_combined, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Amazon's capital spending as a share of its revenue
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: raw USD
OPEN ARTICLEThis table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "AI CapEx versus revenue", tokenrunner.ai/esper/economics/#data-gold_capex_revenue, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
How it is paid for
Debt raised by fiscal year, by layer
Source: SEC XBRL companyfacts, 10-Q and 10-K cash-flow lines.
Source and method
Source: SEC XBRL companyfacts, 10-Q and 10-K cash-flow lines. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, debt raised as filed (US government public record), sec-debt/debt-issuance-quarterly@2026-10-31T181812+0900.
Unit: $B
A fiscal year is named for the year it ends in, so for some companies fiscal 2027 has already begun. Years still open are marked "so far".
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Debt raised, by fiscal year", tokenrunner.ai/esper/economics/#data-gold_debt_year, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
The twenty largest: debt raised in fiscal 2025, by company
Source: SEC XBRL companyfacts, 10-Q and 10-K cash-flow lines.
Source and method
Source: SEC XBRL companyfacts, 10-Q and 10-K cash-flow lines. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, debt raised as filed (US government public record), sec-debt/debt-issuance-quarterly@2026-10-31T181812+0900.
Unit: $B
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Debt raised, by fiscal year", tokenrunner.ai/esper/economics/#data-gold_debt_year, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Debt raised by quarter, by layer
Source: SEC XBRL companyfacts, 10-Q and 10-K cash-flow lines: eight lines of debt raised.
Source and method
Source: SEC XBRL companyfacts, 10-Q and 10-K cash-flow lines: eight lines of debt raised (long-term debt, debt, senior long-term debt, debt net of issuance costs, debt maturing in more than three months, convertible debt, long-term debt and capital securities, medium-term notes). Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, debt raised as filed (US government public record), sec-debt/debt-issuance-quarterly@2026-10-31T181812+0900.
Unit: $B
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Debt raised by the filers", tokenrunner.ai/esper/economics/#data-gold_debt_issuance, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Debt raised by year: a full year, or the year so far
Source: SEC XBRL companyfacts, 10-Q and 10-K cash-flow lines.
Source and method
Source: SEC XBRL companyfacts, 10-Q and 10-K cash-flow lines. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, debt raised as filed (US government public record), sec-debt/debt-issuance-quarterly@2026-10-31T181812+0900.
Unit: $B
A fiscal year is named for the year it ends in, so for some companies fiscal 2027 has already begun. Years still open are marked "so far".
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Debt raised, by fiscal year", tokenrunner.ai/esper/economics/#data-gold_debt_year, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
The price of GPU debt in 2026: the margin over SOFR, in the order signed
Source: SEC EDGAR: CoreWeave, Inc. Forms 8-K of 31 March, 18 May, 10 August and 17 September 2026; Nebius Group N.V. Form 6-K of 22 October 2026; Space Exploration Technologies Corp. Form 8-K of 26 October 2026.
Source and method
Source: SEC EDGAR: CoreWeave, Inc. Forms 8-K of 31 March, 18 May, 10 August and 17 September 2026; Nebius Group N.V. Form 6-K of 22 October 2026; Space Exploration Technologies Corp. Form 8-K of 26 October 2026. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: The companies' own filings (US government public record), read at source by hand; each row carries the filing's title and address and its words.
Unit: as each column says (USD billions; percentage points)
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "The price of GPU debt in 2026", tokenrunner.ai/esper/economics/#data-gold_gpu_debt_terms, built 2026-10-28. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Six GPU financings of 2026 by size, SpaceX's as a commitment
Source: SEC EDGAR: CoreWeave, Inc. Forms 8-K of 31 March, 18 May, 10 August and 17 September 2026; Nebius Group N.V. Form 6-K of 22 October 2026; Space Exploration Technologies Corp. Form 8-K of 26 October 2026.
Source and method
Source: SEC EDGAR: CoreWeave, Inc. Forms 8-K of 31 March, 18 May, 10 August and 17 September 2026; Nebius Group N.V. Form 6-K of 22 October 2026; Space Exploration Technologies Corp. Form 8-K of 26 October 2026. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: The companies' own filings (US government public record), read at source by hand; each row carries the filing's title and address and its words.
Unit: as each column says (USD billions; percentage points)
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "The price of GPU debt in 2026", tokenrunner.ai/esper/economics/#data-gold_gpu_debt_terms, built 2026-10-28. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
What it becomes
Depreciation against capital spending, by year
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: $B
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Depreciation against capex", tokenrunner.ai/esper/economics/#data-gold_depreciation, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Depreciation by company, as each files it
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: $B
OPEN ARTICLEThis table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Depreciation against capex", tokenrunner.ai/esper/economics/#data-gold_depreciation, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Depreciation by layer, by year
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: $B
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Depreciation against capex", tokenrunner.ai/esper/economics/#data-gold_depreciation, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
The twenty largest: depreciation by company, 2025
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts.
Source and method
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
Unit: $B
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Depreciation against capex", tokenrunner.ai/esper/economics/#data-gold_depreciation, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Who it reaches
Layoffs attributed to AI, by quarter
Source: Layoffs.fyi, the AI layoffs list.
Source and method
Source: Layoffs.fyi, the AI layoffs list (https://layoffs.fyi/ai-layoffs/). Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
Whose figures: According to Layoffs.fyi (https://layoffs.fyi/), which tracks tech industry layoffs.
Unit: employees
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "AI-attributed layoffs", tokenrunner.ai/esper/economics/#data-gold_layoffs_ai, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
The twenty largest: people laid off, by company
Source: Layoffs.fyi, the AI layoffs list.
Source and method
Source: Layoffs.fyi, the AI layoffs list (https://layoffs.fyi/ai-layoffs/). Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
Whose figures: According to Layoffs.fyi (https://layoffs.fyi/), which tracks tech industry layoffs.
Unit: employees
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "AI-attributed layoffs", tokenrunner.ai/esper/economics/#data-gold_layoffs_ai, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
The layoffs beside the spending
Jobs gone against the capital spent in the four quarters to the cut, by company-year
Source: Layoffs.fyi's AI-attributed list, as listed, with the research join of 28 October 2026 and the relabel of 29 October 2026; SEC XBRL companyfacts, each company's 10-Q and 10-K.
Source and method
Source: Layoffs.fyi's AI-attributed list, as listed (jobs gone, REPORTED), with the research join of 28 October 2026 and the relabel of 29 October 2026 (the jobs figure tested against the company's own filing or post); SEC XBRL companyfacts, each company's 10-Q and 10-K (capital spending, FACT). Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: Derived from the event record and the filers' quarterly capital table by a stated rule; the jobs figures are Layoffs.fyi's, the capital figures the filings' own
Unit: jobs; USD billions
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "The spine: jobs gone against capital spent, by company-year", tokenrunner.ai/esper/economics/#data-gold_layoffs_spine, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
The cutters' capital: spending, revenue and debt raised, by year
Source: SEC XBRL companyfacts: each company's annual 10-K and its 10-Q and 10-K cash-flow lines; the cutters are the companies of Layoffs.fyi's AI-attributed list with a cut of 1,000 or more.
Source and method
Source: SEC XBRL companyfacts: each company's annual 10-K (capital spending and revenue by calendar year) and its 10-Q and 10-K cash-flow lines (debt raised by fiscal year); the cutters are the companies of Layoffs.fyi's AI-attributed list with a cut of 1,000 or more. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: A slice of the filers' capital tables for the cutters of the event record; every figure as filed (SEC EDGAR, public record)
Unit: USD billions; % of revenue
A fiscal year is named for the year it ends in, so for some companies fiscal 2027 has already begun. Years still open are marked "so far".
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "The cutters' capital: capital spending, revenue and debt raised, by year", tokenrunner.ai/esper/economics/#data-gold_layoffs_cutters_capital, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
AI-attributed cuts as a share of the cuts Layoffs.fyi lists, by month
Source and method
Source: Layoffs.fyi, the AI layoffs list and its monthly totals (https://layoffs.fyi/ai-layoffs/). Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
Whose figures: According to Layoffs.fyi (https://layoffs.fyi/), which tracks tech industry layoffs.
Unit: employees
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "All layoffs against AI-attributed layoffs, by month", tokenrunner.ai/esper/economics/#data-gold_layoffs_all_monthly, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
The sellers' headcount as the filings state it
Source: The companies' own 10-K filings: the employee counts with accession numbers, as the research pass of 28 October 2026 quoted them, and the hand record of 29 October 2026; company names from SEC EDGAR.
Source and method
Source: The companies' own 10-K filings (Item 1, Human Capital): the employee counts with accession numbers, as the research pass of 28 October 2026 quoted them, and the hand record of 29 October 2026 (Oracle's two 10-Ks, Meta's 8-K, Microsoft's two 10-Ks and Amazon's two 10-Ks, opened on 29 October 2026); company names from SEC EDGAR. Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
How it is sourced: The filings' own figures (10-K Item 1, Human Capital), as the research pass quoted them with accessions; the subtraction is ours
Unit: employees
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "The headcount record: what the quiet companies' filings say about their employee count", tokenrunner.ai/esper/economics/#data-gold_layoffs_headcount, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
Jobs gone as listed, the table's figure beside the company's own count
Source: Layoffs.fyi's AI-attributed list and its whole list by month, theirs; company names from SEC EDGAR; a hand read of the companies' own words on 28 October 2026; the research join of 28 October 2026; the relabel of 29 October 2026.
Source and method
Source: Layoffs.fyi's AI-attributed list and its whole list by month, theirs; company names from SEC EDGAR; a hand read of the companies' own words on 28 October 2026; the research join of 28 October 2026 (filings, company pages, WARN notices and press, every value cited); the relabel of 29 October 2026 (filings, company posts and state WARN sheets opened by hand). Adapted by Token Runner: filtered and added up for this chart. The table, its licence and its date
Whose figures: Layoffs.fyi (the lister; its numbers and its attribution); company names from SEC EDGAR; the hand read of 28 October 2026; the research join of 28 October 2026; the relabel of 29 October 2026
Unit: jobs
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "The event record: AI-attributed layoffs, one row per cut", tokenrunner.ai/esper/economics/#data-gold_layoffs_events, built 2026-10-31. CC BY 4.0.
The rows
Read from the same data file as the chart when this is opened.
The data behind it: the 14 tables this dashboard reads, their sources and their dates
CapEx versus revenue
Revenue and capex together for the 71 filers in gold, one row per filer, calendar year and metric, in billions of dollars, from SEC companyfacts.
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Licence and standing: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
One row is one row per ticker, calendar year and metric (Revenue, CapEx); 2066 rows; unit: $B. Built from: sec-companyfacts/facts, collected 31 October 2026; sec-companyfacts/filers, collected 31 October 2026; company-map/companies, collected 31 October 2026. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "CapEx versus revenue", tokenrunner.ai/esper/economics/#data-gold_capex_revenue_combined, built 2026-10-31. CC BY 4.0.
Data-centre construction in the Census count
456 rows: the Census Bureau's Construction Spending (C30) lines for data centres, manufacturing and total private construction, seasonally adjusted annual rate, USD millions, by month, 2014-01 to 2026-08, as read at source from the Bureau's own table.
Source: U.S. Census Bureau, Construction Spending (C30), Value of Private Construction Put in Place, seasonally adjusted annual rate (privsatime.xlsx), the August 2026 release of 1 October 2026. Licence and standing: The Census Bureau's own table (US government public record), read at source; the share is the one division Token Runner makes.
One row is one row per month and line; 456 rows; unit: USD millions, seasonally adjusted annual rate; share in per cent. Built from: not stated. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Data-centre construction in the Census count", tokenrunner.ai/esper/economics/#data-gold_c30_datacenter, built 2026-10-28. CC BY 4.0.
What added to growth: three lines of private investment
24 rows: the BEA's contributions to the percent change in real GDP, in percentage points, for nonresidential structures, information processing equipment and intellectual property products, 2024Q3 to 2026Q2, as FRED carries them.
Source: U.S. Bureau of Economic Analysis, National Income and Product Accounts, contributions to percent change in real GDP (FRED series A009RY2Q224SBEA, Y034RY2Q224SBEA, Y001RY2Q224SBEA), read at source 27 October 2026. Licence and standing: US government statistics (public domain), read at source from FRED's CSV by hand; each row carries its series and address.
One row is one row per series and quarter; 24 rows; unit: percentage points of real GDP growth. Built from: not stated. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "What added to growth: three lines of private investment", tokenrunner.ai/esper/economics/#data-gold_gdp_contrib, built 2026-10-28. CC BY 4.0.
AI CapEx versus revenue
Annual capex, revenue and depreciation for the 71 filers in gold, from SEC companyfacts, in raw USD, by calendar year.
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Licence and standing: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
One row is one row per ticker and calendar year; 1033 rows; unit: raw USD. Built from: sec-companyfacts/facts, collected 31 October 2026; sec-companyfacts/filers, collected 31 October 2026; company-map/companies, collected 31 October 2026. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "AI CapEx versus revenue", tokenrunner.ai/esper/economics/#data-gold_capex_revenue, built 2026-10-31. CC BY 4.0.
Debt raised, by fiscal year
Cash proceeds from issuing debt, one figure per company and fiscal year (the longest year-to-date figure filed), for 69 companies, fiscal 2004 to 2027, in billions of dollars. 819 of 885 figures are full years.
Source: SEC XBRL companyfacts, 10-Q and 10-K cash-flow lines. Licence and standing: SEC EDGAR, debt raised as filed (US government public record), sec-debt/debt-issuance-quarterly@2026-10-31T181812+0900.
One row is one row per ticker and fiscal year; 885 rows; unit: $B. Built from: sec-debt/debt-issuance-quarterly, collected 31 October 2026; company-map/companies, collected 31 October 2026. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Debt raised, by fiscal year", tokenrunner.ai/esper/economics/#data-gold_debt_year, built 2026-10-31. CC BY 4.0.
Debt raised by the filers
Cash proceeds from issuing long-term debt, per filer per fiscal quarter, for the 65 filers whose SEC filings carry the line, in billions of dollars, as filed or as the collector differenced a year-to-date figure (said on every row).
Source: SEC XBRL companyfacts, 10-Q and 10-K cash-flow lines: eight lines of debt raised (long-term debt, debt, senior long-term debt, debt net of issuance costs, debt maturing in more than three months, convertible debt, long-term debt and capital securities, medium-term notes). Licence and standing: SEC EDGAR, debt raised as filed (US government public record), sec-debt/debt-issuance-quarterly@2026-10-31T181812+0900.
One row is one row per ticker and fiscal quarter; 2213 rows; unit: $B. Built from: sec-debt/debt-issuance-quarterly, collected 31 October 2026; company-map/companies, collected 31 October 2026. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Debt raised by the filers", tokenrunner.ai/esper/economics/#data-gold_debt_issuance, built 2026-10-31. CC BY 4.0.
The price of GPU debt in 2026
6 financings for GPUs and the data centres that hold them, filed with the SEC in 2026, each as the filing states it and read at source by hand: CoreWeave's three delayed-draw term loans and its convertible notes, Nebius's bridge, SpaceX's commitment letter for a master finance lease. The margin over SOFR, the size, the lender, the maturity, and the filing's own words.
Source: SEC EDGAR: CoreWeave, Inc. Forms 8-K of 31 March, 18 May, 10 August and 17 September 2026; Nebius Group N.V. Form 6-K of 22 October 2026; Space Exploration Technologies Corp. Form 8-K of 26 October 2026. Licence and standing: The companies' own filings (US government public record), read at source by hand; each row carries the filing's title and address and its words.
One row is one row per financing; 6 rows; unit: as each column says (USD billions; percentage points). Built from: not stated. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "The price of GPU debt in 2026", tokenrunner.ai/esper/economics/#data-gold_gpu_debt_terms, built 2026-10-28. CC BY 4.0.
Depreciation against capex
Depreciation and amortisation charged, and capex, for the 71 filers in gold, one row per filer, calendar year and metric, in billions of dollars, from SEC companyfacts. No useful life is stated: none is filed in gold, and none is assumed.
Source: SEC filings: each company's annual 10-K, from SEC's XBRL company facts. Licence and standing: SEC EDGAR, XBRL company facts (US government public record), sec-companyfacts/facts@2026-10-31T181809+0900.
One row is one row per ticker, calendar year and metric (CapEx, Depreciation); 2066 rows; unit: $B. Built from: sec-companyfacts/facts, collected 31 October 2026; sec-companyfacts/filers, collected 31 October 2026; company-map/companies, collected 31 October 2026. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "Depreciation against capex", tokenrunner.ai/esper/economics/#data-gold_depreciation, built 2026-10-31. CC BY 4.0.
AI-attributed layoffs
The layoff events layoffs.fyi lists as attributed to AI, one row per event, 2024-01-23 to 2026-10-21. 136 of 174 events give a head-count. 0 head-counts read exactly 0 in the record and are NULL here: a 0 is no figure, never a zero. The stated reason is carried as Layoffs.fyi gives it on 167 rows; 53 rows carry a hand read (who attributed it to AI, whether the company's own words appear, AI's role: DID, FUND, FRAMING or DEMAND), the rest NULL. 57 rows at 37 companies carry the SEC ticker and number from the company map, the rest NULL.
Source: Layoffs.fyi, the AI layoffs list (https://layoffs.fyi/ai-layoffs/). Licence and standing: According to Layoffs.fyi (https://layoffs.fyi/), which tracks tech industry layoffs.
One row is one row per layoff event; 174 rows; unit: employees. Built from: layoffs-ai/ai-layoffs, collected 28 October 2026; company-map/companies, collected 31 October 2026. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "AI-attributed layoffs", tokenrunner.ai/esper/economics/#data-gold_layoffs_ai, built 2026-10-31. CC BY 4.0.
The spine: jobs gone against capital spent, by company-year
72 company-years of the event record (companies with a ticker): the listed jobs gone that year beside the company's capital spending over the four filed quarters to the cut; 44 carry both figures. The capital rule is trailing four quarters at the cut, not the calendar year. The relabel of 29 October 2026 labels the jobs figure on the 24 largest company-years from the companies' own filings and posts (FACT 12, REPORTED 7, PRESS ONLY 5) with the company's own words beside it; capital figures to three decimals as filed.
Source: Layoffs.fyi's AI-attributed list, as listed (jobs gone, REPORTED), with the research join of 28 October 2026 and the relabel of 29 October 2026 (the jobs figure tested against the company's own filing or post); SEC XBRL companyfacts, each company's 10-Q and 10-K (capital spending, FACT). Licence and standing: Derived from the event record and the filers' quarterly capital table by a stated rule; the jobs figures are Layoffs.fyi's, the capital figures the filings' own
One row is one row per company and year of the event record; 72 rows; unit: jobs; USD billions. Built from: not stated. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "The spine: jobs gone against capital spent, by company-year", tokenrunner.ai/esper/economics/#data-gold_layoffs_spine, built 2026-10-31. CC BY 4.0.
The cutters' capital: capital spending, revenue and debt raised, by year
The 16 companies of the event record with a cut of 1000 or more, 11 on the filers' tables (AMZN, CRM, CSCO, DELL, INTU, META, NET, NFLX, NKE, ORCL, TEAM): capital spending and revenue by calendar year, debt raised by fiscal year, from 2019. year_basis says what each year is as filed: calendar where the filed year ends 31 December, else the fiscal year and its end (Oracle's year '2025' is fiscal 2026, to 31 May 2026; the relabel of 29 October 2026, item 91).
Source: SEC XBRL companyfacts: each company's annual 10-K (capital spending and revenue by calendar year) and its 10-Q and 10-K cash-flow lines (debt raised by fiscal year); the cutters are the companies of Layoffs.fyi's AI-attributed list with a cut of 1,000 or more. Licence and standing: A slice of the filers' capital tables for the cutters of the event record; every figure as filed (SEC EDGAR, public record)
One row is one row per company, basis and year; 156 rows; unit: USD billions; % of revenue. Built from: not stated. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "The cutters' capital: capital spending, revenue and debt raised, by year", tokenrunner.ai/esper/economics/#data-gold_layoffs_cutters_capital, built 2026-10-31. CC BY 4.0.
All layoffs against AI-attributed layoffs, by month
Layoffs.fyi's monthly totals for every layoff it lists beside the AI-attributed ones, one row per month, 2024-01 to 2026-10: the denominator the AI list needs. Over the span 411,441 employees in 1348 events, of which 138,781 employees in 174 events are attributed to AI. The two share columns are our arithmetic from the source's totals; a month with no events reads NULL.
Source: Layoffs.fyi, the AI layoffs list and its monthly totals (https://layoffs.fyi/ai-layoffs/). Licence and standing: According to Layoffs.fyi (https://layoffs.fyi/), which tracks tech industry layoffs.
One row is one row per month; 34 rows; unit: employees. Built from: layoffs-ai/all-layoffs-monthly, collected 31 October 2026. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "All layoffs against AI-attributed layoffs, by month", tokenrunner.ai/esper/economics/#data-gold_layoffs_all_monthly, built 2026-10-31. CC BY 4.0.
The headcount record: what the quiet companies' filings say about their employee count
57 filed headcount figures at 30 companies, read from their 10-Ks by the research pass of 28 October 2026 (file 6-QUIET pass 2), each with its accession and the filing's own words: 26 exact, 30 approximate, 1 'over'. change_from_prior on 27 rows (computed from two filings; 11 exact). Scope is the filing's: employees, full-time employees, people, or workers including temporary staff; the scopes are not comparable across companies. 7 rows read by hand on 29 October 2026 from the filings named on them (gold/layoffs_headcount_hand.json; FACT where the filing was opened, REPORTED where it was not), and 2 rows relabelled EXACT to APPROX with the old value kept in the note.
Source: The companies' own 10-K filings (Item 1, Human Capital): the employee counts with accession numbers, as the research pass of 28 October 2026 quoted them, and the hand record of 29 October 2026 (Oracle's two 10-Ks, Meta's 8-K, Microsoft's two 10-Ks and Amazon's two 10-Ks, opened on 29 October 2026); company names from SEC EDGAR. Licence and standing: The filings' own figures (10-K Item 1, Human Capital), as the research pass quoted them with accessions; the subtraction is ours
One row is one row per company per as-of date of a filed headcount figure; 57 rows; unit: employees. Built from: layoffs-research/rows, collected 28 October 2026; company-map/companies, collected 31 October 2026. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "The headcount record: what the quiet companies' filings say about their employee count", tokenrunner.ai/esper/economics/#data-gold_layoffs_headcount, built 2026-10-31. CC BY 4.0.
The event record: AI-attributed layoffs, one row per cut
The Phase 1 event record: 222 events Layoffs.fyi attributes to AI, 2024-01-23 to 2026-10-28, one row per cut per company per announcement, with every field of the record (page 4b) and NULL where the home cannot fill it. Filled: the listed head-count on 149 rows and share on 116 (Layoffs.fyi's numbers, as reported by the one press source it names); ticker and SEC number on 103 rows at 62 companies; the company's own words, who said AI, AI's role and the label on the 53 hand-read rows; the kind of source by rule on every row (PRESS 185, COMPANY PAGE 12, FILING 11, SOCIAL 9, NOTICE 5); the month's all-layoffs totals on 222 rows. Empty on every row today: function, mechanism. The date is one unlabelled date on the listed rows; filed, WARN or memo dates on the research rows. THE RESEARCH JOIN of 28 October 2026 (filings and reports read by hand, bus 2600-2620) fills 37 listed events (the company's own figure beside the table's, denials on record, what the machine does, filing accessions) and adds 48 events the list does not hold (listed_by NULL). THE RELABEL of 29 October 2026 (the records relabel list, filings and state WARN sheets opened by hand) corrects or fills 13 rows (the old value kept on the row) and tests the company's own words against the role on 41 FUND and DID rows (words_support_role).
Source: Layoffs.fyi's AI-attributed list and its whole list by month, theirs; company names from SEC EDGAR; a hand read of the companies' own words on 28 October 2026; the research join of 28 October 2026 (filings, company pages, WARN notices and press, every value cited); the relabel of 29 October 2026 (filings, company posts and state WARN sheets opened by hand). Licence and standing: Layoffs.fyi (the lister; its numbers and its attribution); company names from SEC EDGAR; the hand read of 28 October 2026; the research join of 28 October 2026; the relabel of 29 October 2026
One row is one row per cut, per company, per announcement; 222 rows; unit: jobs. Built from: layoffs-ai/ai-layoffs, collected 28 October 2026; layoffs-ai/all-layoffs-monthly, collected 31 October 2026; company-map/companies, collected 31 October 2026. Token Runner adapted this material: it was filtered, joined and added up; the source does not endorse Token Runner or this use.
This table and its charts: Token Runner's own, under CC BY 4.0; the source keeps its own terms. Cite this: Token Runner, "The event record: AI-attributed layoffs, one row per cut", tokenrunner.ai/esper/economics/#data-gold_layoffs_events, built 2026-10-31. CC BY 4.0.
Method: which line of a filing supplied each figure
Interlinked pieces that use these tables
