"In 2026, AI capex reached $765B, passing oil and gas capex at $681B for the first time. By 2031, it is projected to nearly double. Morgan Stanley projects that AI’s diffusion across the global economy creates a $40T opportunity. That opportunity rests on a key resource: compute."
AI capex is projected to reach $765B in 2026, passing oil and gas for the first time. Compute is now getting its first futures contract. Here is what has to be ...