As a handful of the world's most valuable companies set out to spend $1 trillion over the next five years on data centers for artificial intelligence, one line item is on the minds of executives and investors: depreciation.

In accounting, depreciation is the act of allocating the cost of a hard asset over the course of its expected useful life. It's an increasingly important concept in the tech industry, as companies predict how long the hundreds of thousands of Nvidia graphics processing units they're purchasing will remain useful or retain their value.

Infrastructure giants like Google , Oracle and Microsoft have said their servers could be useful for up to six years. But they could also depreciate much sooner. Microsoft said in its latest annua

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