Hyperscaler Quarterly Capex Growth Later in 2026, hyperscalers are expected to ease capex growth, a shift that could drag on valuations but also leave them vulnerable in the supply-strained fight for AI dominance. Image: Goldman Sachs Global Investment Research
Hyperscaler Capex Hyperscaler capex is on track to jump to about $660 billion this year and $792 billion in 2027, though the buildout won’t be all smooth sailing. Periods of overcapacity could slow the pace as demand and returns find their balance. Image: Goldman Sachs Global Investment Research
Global Quarterly Tech Capex Growth Tech investment has surged in recent years, but the underlying rhythm hasn’t changed: global tech capex has grown 14.6% annually since 2013, right in line with its decade‑long trend. Image: Goldman Sachs Global Investment Research
Hyperscaler Capex Hyperscalers are on pace to spend $4 trillion on capex by 2030, more than ten times what the Apollo program cost in today’s dollars, a bet that leaves little room for error. Image: Bloomberg
Hyperscaler Capex by Company Goldman Sachs is turning more bullish on hyperscaler spending, hiking its CAPEX outlook after 3Q25 results showed a wave of AI‑ and cloud‑fueled infrastructure growth. Image: Goldman Sachs Global Investment Research
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
CEO Confidence vs. U.S. Business Capex Weak CEO confidence does not bode well for capex. Image: Gavekal, Macrobond
Oil Prices and Consensus Capex Could oil capex cuts lead to supply disruptions? Image: Morgan Stanley Research
U.S. Core Capital Goods Shipment and Non-residential Business Fixed Investment (Capex) Is the “phase one” US-China trade deal enough to reverse the slowdown? Image: Deutsche Bank Global Research
U.S. Big Tech’s Capital Expenditures Tech titans Alphabet, Amazon, Meta, and Microsoft plan to spend $650 billion this year into AI data centers, chips, and infrastructure, up 60% from last year as the race for AI dominance intensifies despite mounting execution risks. Image: Bloomberg
S&P 500 Weekly Announced Buybacks S&P 500 buyback announcements have cooled in recent months, but most analysts call it a pause after record highs. High rates and rising capex are weighing on activity, but resilient earnings keep the trend alive. Image: Deutsche Bank Asset Allocation