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AI hyperscalers are forecast to spend nearly $700 billion on infrastructure this year, with cumulative spending that could reach multiple trillions of dollars over the next decade. This sizable capex trajectory implies meaningful demand upside for data-center operators, semiconductor and networking equipment suppliers, and cloud services providers.

Analysis

AI hyperscalers are forecast to spend nearly $700 billion on infrastructure this year, with cumulative spending that could reach multiple trillions of dollars over the next decade. This sizable capex trajectory implies meaningful demand upside for data-center operators, semiconductor and networking equipment suppliers, and cloud services providers.