Moody’s: Hyperscaler capex forecasts marked up by $85bn, to close in on $1trn by 2027

Hyperscaler capex will reach $785 billion this year and close in on $1 trillion in 2027, according to projections from Moody’s Ratings.

This is a significant rise from March, when the ratings agency forecast that hyperscaler capex would reach $700bn this year.

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Microsoft, Amazon, Meta, Alphabet, Oracle, and CoreWeave were included in the forecast. Moody’s noted that AWS capex was an estimate, as Amazon does not report AWS-specific capex.

Of these, AWS, Microsoft Azure, and Alphabet’s Google Cloud Platform are making the biggest investments in AI infrastructure.