Four tech giants are racing to build AI infrastructure at a scale that dwarfs anything the industry has seen before, and the gap between the winners and the rest of the market keeps widening with every passing quarter.
Citi’s One Number: $5.35 Trillion
Citi projects that four companies will spend $5.35 trillion in capital expenditures from 2027 through 2030: Amazon (NASDAQ:AMZN | AMZN Price Prediction), Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL) and Meta Platforms (NASDAQ:META). To put that in scale, the market value of Apple (NASDAQ:AAPL) is $4.95 trillion. At Citi’s forecast, these four spenders would lay out more than the price of the whole company.
The figure is a cumulative four-year total for all four companies combined. Capital expenditures are the money a company spends on physical assets that last for years: data centers, chips, servers and the power to run them. AI infrastructure drives most of it, but Citi’s number counts all capital spending and has no…
