Morgan Stanley says AI capital spending is 'uniquely price insensitive,' with $800B projected for 2026 as input costs surge. Here's why that matters.

There’s a term for demand that’s relatively insensitive to price: inelasticity. You often find it in things that are essential (electricity) or deeply desired (concert tickets).

Morgan Stanley says AI capital spending is 'uniquely price insensitive,' with $800B projected for 2026 as input costs surge. Here's why that matters.