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Independent analysis of communications networks

operators-tracked

190+

Operators tracked

industry-coverage

14+ Years

50+ quarters time series

metrics-monitored

50+

Metrics monitored

quarters-time

$750 billion

Capex tracked

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Latest Reports

Webscale Market Tracker, 3Q25: 12 month capex hits $450 billion
December 2025
Energy & Sustainability Tracker: Telcos, 2025
November 2025
Global Telco Market Tracker, 2Q25: Capex pullback persists even as revenues surge 4.6%
October 2025

Insights & Views

Hyperscalers channel Ronald Reagan with capex bombast

I’ve studied comms industry capex for over 25 years. In 1999, I built the first telco capex model for a...

February 2026
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Massive AI buildouts set to continue despite warning signs in early 4Q25 earnings

4Q25 early view: Capex and debt soar; revenues…TBDSeveral of the biggest spending “webscalers” (aka hyperscalers) in the AI world have...

January 2026
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The View From 2025: Telecom, AI, Energy, and the Cost of Collective Delusion

Looking back at my LinkedIn posts from 2025, a few themes jump out immediately. I spent a lot of time...

December 2025
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Our Two Core Offerings

Delivering value through our two pillars of expertise

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Research

  • Data-centric subscription service (GNI) tracking the global communications network industry – telcos, webscalers, and carrier-neutral specialists.
  • Three new research modules delivering specialised intelligence on emerging frontiers shaping network infrastructure: Telecom AI & Automation, Telecom Energy & Sustainability, and Data Center Power & Connectivity
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Consulting

Independent, insight-led consulting engagements tailored to complex strategic and technology questions. We partner with clients where our expertise and data can meaningfully influence outcomes, with projects scoped collaboratively and delivered with full independence.

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Press Highlights

Stay updated with our latest media mentions and industry features.

Telco headcount keeps shrinking, but layoffs fail to deliver a silver bullet
Mobile Europe
January 2026
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As the AI Bubble inflates, can operators extract returns?
Developing Telecoms
January 2026
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Starlink can now deploy more satellites – here’s what analysts think
Fierce Network
January 2026
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Insights & views

Insights, ideas, and industry perspectives

Hyperscalers channel Ronald Reagan with capex bombast
Substack
Hyperscalers channel Ronald Reagan with capex bombast
07 Feb 2026
Read More
Massive AI buildouts set to continue despite warning signs in early 4Q25 earnings
Substack
Massive AI buildouts set to continue despite warning signs in early 4Q25 earnings
30 Jan 2026
Read More
The View From 2025: Telecom, AI, Energy, and the Cost of Collective Delusion
Substack
The View From 2025: Telecom, AI, Energy, and the Cost of Collective Delusion
29 Dec 2025
Read More
View All
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