Goldman: Big Tech AI Spend to Hit $1.2T

Goldman Sachs projects Amazon, Alphabet, Microsoft, Oracle and Meta will spend a combined $1.2 trillion on AI infrastructure in 2027, over 50 percent above this year's roughly $800 billion and above Wall Street's $1.1 trillion consensus. Growth slows from nearly 100 percent in 2026 to 54 percent in 2027 and 12 percent in 2028, with spending now exceeding operating cash flow, forcing more debt.