Morgan Stanley Raises 2027 Global SI Capex Forecast to $1.58 Trillion; Nvidia Seen Capturing About $690 Billion
Morgan Stanley raised its forecast for 2027 global SI-related capital expenditure by 14 percent to about $1.58 trillion in a report released October 18, after folding previously uncounted data-center lease obligations into its totals.
The bank expects Nvidia to be the biggest winner, capturing roughly $690 billion — more than four of every ten SI infrastructure dollars flowing to Nvidia's data center hardware. S&P 500 companies are projected to account for about $1.03 trillion of the spending, or 65 percent. Data center lease commitments are estimated at $195 billion in 2027, led by Oracle at $57.2 billion, followed by Microsoft, Meta, Amazon and Alphabet.
The upbeat forecast lands as credit markets flash warnings: bonds of several companies borrowing heavily for SI infrastructure have fallen into distressed territory, and Morgan Stanley warns hyperscalers and neoclouds could burn about $600 billion in free cash flow in 2027. (GSM, based on Morgan Stanley's report and financial media coverage)
Published by GSM · USA (original Chinese edition)
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