Today is all about AI capex.
Today is all about AI capex. This is the range to watch: $435–475 billion.
That’s estimate capex for this year alone from Microsoft, Meta and Google, who all report after the bell. It’s an astounding number that I want to put into perspective. because even people in markets have no idea how big the AI capex boom is. It’s larger than the combined annual military spending of China and Russia.
That’s more than the entire government of Canada budget this year and approaches Germany’s government budget. It’s double the entire four-year Marshall Plan (inflation adjusted). It’s nearly equivalent to the 35-year build out of the interstate highway system (inflation adjusted) It’s slightly larger than entire global upstream oil capex budget.