Additions to property and equipment were $30.9 billion cash in the quarter (about $31.9 billion including finance leases), up roughly 85% year‑over‑year, and $80.1 billion over nine months. The layer up from infrastructure is guided to roughly $190 billion for calendar 2026 and above $40 billion next quarter. Roughly two‑thirds of the spend is short‑lived assets that correlate with revenue, the rest long‑lived, and the CFO noted a bit of a disconnect that makes investors nervous.