Recently, JPMorgan released a landmark research report titled 'AI Capex 2.0: If You Build It, They Will Finance It,' revealing a staggering figure to global investors:Global AI capital expenditures are projected to reach $5.5 trillion by 2030.
In this unprecedented 'spending war,' the arms race among the four U.S. cloud giants ( $Alphabet-A (GOOGL.US)$ 、 $Amazon (AMZN.US)$ 、 $Microsoft (MSFT.US)$ and $Meta Platforms (META.US)$ ) continues to escalate, with combined investments expected to reach as high as $700–$725 billion in 2026 alone. Even Taiwan Semiconductor, the undisputed core 'shovel seller,' $NVIDIA (NVDA.US)$ recently announced plans to raise funds through the issuance of up to $20 billion in senior debt.
Tech giants are taking on massive debt—$4.1 trillion is expected to be financed through borrowing—to secure their positions in AI, signaling thatthe 'inflationary era' of AI computing power has officially begun.。This robust demand, driven by enormous capital expenditures, is unleashing a superstorm across the global semiconductor and hardware infrastructure supply chain.
Starting from the initially most scarce GPUs, the surge has spread to high-bandwidth memory...