AI Capex Surge: Goldman Sachs Predicts $1 Trillion in Spending

Analysts are revising their estimates for AI capex in 2026, with Goldman Sachs predicting a higher figure than initially expected. According to research from McKinsey & Co., global AI capex could reach $7 trillion by 2030.

The consulting group describes the projected build-out as 'one of the largest infrastructure build-outs in modern history.' However, not all analysts are optimistic about the sector's growth prospects. AllianceBernstein notes that the use cases for AI are slowly emerging but cautions that it may take longer than investors expect for the technology to reach its full potential.

Goldman Sachs believes that consensus estimates of $800 billion in AI capex this year understate the true figure, which could be closer to $1 trillion. The bank's analysts attribute this discrepancy to differences in reporting, particularly with regards to U.S. spending, which may be lower than expected.

Investors seeking to capitalize on higher-than-expected AI capex can consider two strategies: betting on the global AI leader or investing in AI stocks exposed to Asia. Nvidia and Qualcomm are identified as prime candidates for these investment approaches, respectively.