Citigroup has significantly raised its forecast for AI infrastructure spending by tech companies, now projecting it to exceed $2.8 trillion by 2029, spurred by anticipated expenditures of $490 billion from hyperscalers by the end of 2026. This uptick reflects the rapid growth of the AI infrastructure sector, yielding notable contributions to U.S. stock market rises, with companies like Nvidia and Oracle ramping up their capabilities. In a separate observation, despite record stock market performances, analysts like Jim Cramer caution against further investments in recently surging stocks such as Coca-Cola, which has increased by 20% in 2024, while Citigroup itself navigates challenges with a $22 billion private credit exposure amid a fluctuating financial scene.
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