Goldman Sachs Sees U.S. Hyperscaler Capex Hitting $1.4T by 2027

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โดย Seeking Alpha·US·Read original
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Goldman Sachs expects U.S. hyperscalers to deploy $1.4T in capital in 2027, an estimate that sits above Wall Street consensus as artificial intelligence shifts from experimentation to implementation. The bank expects the AI infrastructure spending cycle to remain elevated through 2027, noting that computing demand continues to outpace supply and that much of the infrastructure under development has already been contracted. Eric Sheridan, a business unit leader at Goldman Sachs Research, said the move toward implementation was a key takeaway from the bank's Communacopia + Technology Conference in San Francisco earlier this month, where most companies presented distinct examples of moving from AI experiments to deploying AI in internal operations and workflows and externally with customers. Goldman Sachs also sees consumer AI agents moving beyond chat toward tasks such as shopping, travel bookings, and calendar management, with monetization expected through advertising and subscriptions while more complex tasks drive higher token usage. The bank said AI growth still faces constraints around memory chips, power, and land, and that lower token prices will be key to driving mass adoption.

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Goldman Sachs Research forecasts U.S. hyperscaler capex of $1.4T by 2027, above consensus, highlighting its AI infrastructure research franchise.

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