Citigroup raises global AI spending and revenue outlook
Citigroup raised its global AI capital expenditure forecast to 8.9 trillion dollars through 2030. Revenue estimates grew amid rising enterprise demand.
Citigroup Inc. has significantly upgraded its long-term financial outlook for the artificial intelligence sector, citing a surge in enterprise demand and the rapid evolution of agentic systems. The bank now estimates global AI capital expenditure will reach $8.9 trillion between 2026 and 2030, a substantial increase from its previous projection of $8 trillion. This upward revision is mirrored in revenue expectations, with global AI-related income now forecast at $3.3 trillion for the same period, up from $2.8 trillion.
Major technology players, often referred to as hyperscalers, are leading this investment wave. Amazon.com, Inc., Microsoft Corporation, Alphabet Inc., and Meta Platforms, Inc. are collectively projected to exceed $630 billion in capital spending during the current year alone. Despite recent volatility in technology stocks, analysts at the bank view the current market climate as a strategic entry point for investors following the AI-driven selloff last month.
\"We believe the market remains focused on challenges of bringing global data center capacity online, rising financing needs and intense competition, while overlooking elevated returns from these investments and early signs of an enterprise-driven productivity cycle.\"
The growth is further evidenced by the performance of leading AI developers. Anthropic has projected annualized revenue of $26 billion by 2026, while OpenAI recently reported a run rate exceeding $25 billion, marking a significant jump from the $21.4 billion recorded at the end of last year. Citigroup suggests that the market is currently overlooking the potential for an enterprise-driven productivity cycle as tools advance to unlock new workflows and agentic systems.
