Americas Technology: Hardware: AI Project Pulse: June 2026

研报英文原文证据摘录

Americas Technology: Hardware: AI Project Pulse: June 2026

Equity Research

30 June 2026 | 2:33PM EDT

Katherine Murphy

+1(212)902-1151 |

katherine.a.murphy@gs.com

Goldman Sachs & Co. LLC

Michael Ng, CFA

+1(212)902-8618 | michael.ng@gs.com

We summarize recent announcements and developments in the AI project space Zorayda Montemayor

across neoclouds, sovereigns, and enterprise made in June 2026. This represents +1(212)357-6403zorayda.montemayor@gs.com|

select project announcements and is not indicative of the total AI infrastructure Goldman Sachs & Co. LLC

opportunity.

Key highlights in June 2026 include:

n CoreWeave & DELL stood up the first fully validated Vera Rubin NVL72 rack,

with NVDA announcing at GTC Taipei that full production ramp remains on track

for 2H26.

n SMCI raises up to $7 bn to fund the purchase of components to satisfy ~$39

bn in AI server orders that SMCI has received in recent weeks across more than

20 customers (to be fulfilled in future quarters). We highlight recent SMCI

sovereign cloud announcements including Turkish AI sovereign cloud Odine and

India’s Yotta sovereign cloud in partnership with Gorilla.

n Separately, we raise our global servers TAM to reflect the ramp-up of AI server

racks and higher memory costs driving CSP spending. We also published a

comprehensive server industry primer, which provides a foundational analysis of

the market’s technological evolution over the past 70 years, current competitive

dynamics, and the financial frameworks governing the industry.

Neoclouds & data center operators

Headlines presented in reverse chronological order.

Argentum AI secures $4.1 bn AI cloud contract (6/23/26): Argentum AI has signed

a $4.1 billion infrastructure agreement to provide a leading AI company with