Goldman Sachs raises AI capex forecast
Analysis based on 6 articles · First reported Jun 03, 2026 · Last updated Jun 03, 2026
The increased capex forecast by Goldman Sachs for major hyperscalers like Meta Platforms, Microsoft, Amazon (company), and Alphabet Inc. suggests a significant boost in investment in AI data centers. This will likely drive growth in the technology and real estate sectors, particularly for companies involved in infrastructure and data center development. The shift towards private infrastructure and real estate capital for financing could also create new investment opportunities and alter traditional funding models.
Goldman Sachs has increased its combined capital expenditure forecast for the four largest hyperscalers – Meta Platforms, Microsoft, Amazon (company), and Alphabet Inc. – to $5.3 trillion between fiscal years 2025 and 2030, up from a previous forecast of $4.5 trillion. This increase is driven by the AI-driven data center boom. Goldman Sachs expects private infrastructure and real estate capital to play a significantly larger role in financing these needs, as companies move beyond traditional funding methods. The boundaries between private infrastructure and real estate are blurring, with data center projects encompassing land, power, building, and equipment. The private infrastructure market is projected to grow at an increased annualized rate, potentially pushing assets under management above $3 trillion by 2030.
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