Oct. 21 at 6:30 PM
Citigroup ups its big tech AI infrastructure spend f/cast by nearly +22% to more than
$2.8T in spending thru 2029, vs prev view for
$2.3 T in spending fueled by aggressive investments from hyperscalers & heightened enterprise appetite.
Citi also raised its hyperscaler AI capex projection for 2026 by +
$70B, now forecasting
$490B in spending vs its prior view for
$420B in spending
To support this scale of AI compute, Citi ests a need for 55 gigawatts of new global power capacity by 2030—equivalent to roughly half of US nuclear generation today—costing about
$50B/gigawatt.
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