BofA: hyperscaler capex path $330B to $1T is a 3x jump and 2.7x the 1990s tech boom share of GDP
Bank of America strategist Sebastian Raedler told clients this week that 12-month forward hyperscaler capex expectations jumped from $330 billion in early 2025 to $1 trillion, about 3% of US GDP.
That is a 3x jump in the consensus spend path, and about 2.7x the 1990s tech boom's 1.1% of GDP share. Average token prices are already down around 50% since summer.
https://finance.yahoo.com/technology/ai/articles/ai-avoid-boom-bust-fate-105651597.html
Sources: 24/7 Wall St: Raedler on capital-cycle risk even if the technology works; Nasdaq/semis weakness
Not financial advice. For informational and educational purposes only.
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