Government investment is expected to account for US$56 billion, while China’s major internet firms are projected to contribute US$24 billion
That would represent as much as a 48 per cent overall growth this year for China’s AI capex from 2024, BofA Securities’ co-head of China equity research Matty Zhao, who also heads Asia-Pacific basic materials, oil and gas research at BofA Global Research, said in an interview on Monday.
Spending attributed by BofA to the country’s large telecommunications network operators and special-purpose bonds makes up the rest of the forecast AI capex.
