Future Capex Expectations Tracker

Future Capex Expectations Tracker After a brief surge following the election and inauguration, businesses’ future capex expectations have moderated and now sit slightly below the average levels seen from 2022 to 2024, reflecting heightened uncertainty. Image: Goldman Sachs Global Investment Research

Big Tech Capex Outlook

Big Tech Capex Outlook A once-in-a-generation shift is underway with the current AI-driven capex boom. Hyperscalers are spearheading this transformation with enormous investments in AI infrastructure, with spending expected to reach $340 billion this year. Image: Deutsche Bank

Magnificent 7 Annual Capex Spend

Magnificent 7 Annual Capex Spend The Magnificent 7’s capital expenditure is projected to grow by 31% to $331 billion in 2025, followed by a 10% increase to $363 billion in 2026, underscoring the Magnificent 7’s focus on long-term growth and innovation. Image: Goldman Sachs Global Investment Research

GS CapEx & R&D Index – S&P 500 Index Quarterly Performance

GS CapEx & R&D Index – S&P 500 Index Quarterly Performance The underperformance of stocks with high CapEx and R&D expenditures highlights the tension between long-term corporate investment strategies and investors’ desire for near-term profitability. Image: Bloomberg

Oil Prices and Consensus Capex

Oil Prices and Consensus Capex Could oil capex cuts lead to supply disruptions? Image: Morgan Stanley Research

U.S. Discretionary Spending and Recessions

U.S. Discretionary Spending and Recessions Because there are few imbalances, Deutsche Bank suggests that the U.S. expansion could continue for many more years. Note: discreationary spending defined as consumer durable goods, plus business capex, plus residential investment (i.e. PCE durables + gross private domestic investment). Image: Deutsche Bank Global Research