Evidence from the quarters immediately after the April 26, 2025 podcast shows that hyperscaler data‑center and AI infrastructure capex was maintained or increased, not meaningfully reduced, despite tariff uncertainty.

1. Alphabet/Google (the specific ~$75B reference)

   • On Feb. 4, 2025 Alphabet said it expected to invest about $75B in 2025 capex, mostly for servers and data centers.(cnbc.com)
   • In its Q1 2025 earnings commentary (late April, i.e., right around the podcast), Alphabet reiterated that it still expected to invest approximately $75B in 2025 capex, noting this could fluctuate by quarter due to delivery and construction timing but not cutting the total.(alphabet2025ir.q4web.com)
   • On April 9, 2025, amid market volatility from President Trump’s tariffs, Alphabet publicly reaffirmed its ~$75B 2025 spending plan “despite turmoil over U.S. tariffs,” explicitly tying this to data center and AI build‑out.(investing.com)
   • By Q3 2025 (within two quarters of the podcast), Alphabet had raised its 2025 capex guidance first to $85B and then to $91–93B, with the “vast majority” going to technical infrastructure (servers, data centers, networking).(datacenterdynamics.com)
     This is the opposite of a cut: Google’s planned ~$75B was maintained and then increased.

2. Meta

   • In its late‑2024 guidance, Meta expected 2025 capex of $60–65B.(marketscreener.com)
   • In Q1 2025 (May 2, 2025—the very next quarter after the podcast), Meta raised that 2025 capex outlook to $64–72B, citing additional data‑center investments to support AI and higher infrastructure‑hardware costs.(datacenterdynamics.com)
   • Meta explicitly attributed some of the increase to uncertainty and higher costs from Trump’s tariffs and trade discussions, not to cutting investment.(datacenterdynamics.com)
     So tariffs raised Meta’s costs, but its DC/AI capex plans grew rather than being reduced.

3. Microsoft and Amazon

   • Microsoft signaled plans to spend about $80B in fiscal 2025 on AI‑enabled data‑center capex, and Q3 FY25 results (reported April 30, 2025) showed capital expenditures rising sharply, with management saying capex would continue to grow in the next fiscal year even after Trump’s tariffs were announced.(reuters.com)
   • While Microsoft later said it was “slowing or pausing” some specific data‑center projects (e.g., an Ohio site), it still planned to invest over $80B in AI infrastructure globally, and analysts continued to model roughly that spend, describing project moves as portfolio adjustments rather than a broad capex pullback.(apnews.com)
   • For Amazon, contemporaneous coverage of Q1 2025 results noted that it left its 2025 capex outlook roughly unchanged around ~$105B, most of it AI/cloud‑related, even as trade tensions rose.(mitrade.com)
   • Subsequent announcements of large new AWS government and regional data‑center investments later in 2025 are consistent with an ongoing, elevated build‑out rather than a near‑term cut.(reuters.com)

4. Industry‑wide picture under tariffs

   • Analysis of the top hyperscalers ahead of and during 2025 shows them collectively targeting around $350B+ in 2025 cloud/AI datacenter capex, up dramatically from prior years, with commentary that tariffs and trade war risks might eventually force moderation but had not yet done so.(forbes.com)
   • Another industry summary puts Q1 2025 total datacenter capex up ~50% year‑over‑year, with the top four cloud providers’ capex up ~73%, noting that hyperscalers were “investing proactively in anticipation of tariffs” rather than pulling back.(linkedin.com)

Across Google, Meta, Microsoft, and Amazon—the core “hyperscalers” Sacks was talking about—capital‑expenditure plans and data‑center buildouts in the one to two quarters after April 26, 2025 were maintained or increased, even as tariffs raised costs and created uncertainty. There is no evidence of a meaningful reduction in these strategic investments over that time window; if anything, the trend was further upward.

Given that, Sacks’s prediction that hyperscaler data‑center/AI capex (including Google’s ~$75B plan) would “hold up” over the next quarter or two despite tariff turmoil is best evaluated as right.