Citi Forecasts that AI-infrastructure Capex will Exceed $2.1 Trillion in 2029
Citi forecasts that AI-infrastructure capex will exceed $2.1 trillion in 2029.
Most of the capex growth will be driven by enterprise and sovereign spending.
I think there are three stages of adoption for every major technological leap:
- Early adopters
- Enterprises
- Sovereigns
We are currently in the early innings of enterprise adoption for AI.
Sovereigns are spending almost nothing on AI today, but that will change at some point soon.
Once they start spending too, global capex will skyrocket.
We are still early. $C3.ai, Inc.(AI)$
Two bar charts. The left chart shows hyperscaler capital expenditures from 2019 to 2029, with bars for Amazon, Microsoft, Google, and Meta, increasing over time, labeled in billions of dollars. The right chart displays global capital expenditures related to AI infrastructure investment from 2023 to 2029, with a line indicating growth from $154 billion to $2,142 billion, labeled with a 95% CAGR.
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