Recent large-scale deals and partnerships indicate a bullish outlook for compute and data center infrastructure, highlighted by IREN signing $2.8B in AI lab deals and HUT securing a 15-year, $9.8B agreement. MSFT is expanding its partnership to purchase more chips from AMD, while GOOGL is reportedly developing a new in-house chip, Frozen V2. The market's CapEx expectations will face a key test with upcoming GOOGL earnings this week.