We're not talking about computers; we're talking about capital deployed in the guise of network infrastructure. Buildings full of bandwidth and support -- power, HVAC, etc.
I.e., something like these:
http://www.exodus.net/idc/ http://www.uu.net/products/hosting/datacenter/ http://www.level3.com/us/services/colocation/
Computers (as you rightly point out) aren't capital; they are practically not even depreciatable. The difference is supposed to be "useful life greater than a year" but ...
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Where the hell is Brad, anyway?
/jordan