2027 AI capex estimates doubled since November
@morganstanly has revised AI capex estimates "sharply higher in every year," with 2027 ballooning from $687bn to $1.384tn and 2028 from $763bn to $1.547tn versus the Nov-2025 numbers.
GOOGL at $400bn and AMZN at $350bn drive the 2028 total, and the revision is the story: the base case got twice as large in under a year.
@morganstanly has revised AI capex estimates "sharply higher in every year," with 2027 ballooning from $687bn to $1.384tn and 2028 from $763bn to $1.547tn versus the Nov-2025 numbers.
GOOGL at $400bn and AMZN at $350bn drive the 2028 total, and the revision is the story: the base case got twice as large in under a year.