AI capital spending reportedly runs 50% above forecasts in 2026, against 20% for revenue

A post summarizing Bank of America research says AI capital spending is running 50% above forecasts in 2026, against 20% for revenue. The research projects capital spending by the top five hyperscalers and neoclouds at $956 billion in 2026, $1.32 trillion in 2027 and $1.5 trillion in 2028. It estimates that 212 GW of new data center capacity from 2026 to 2030 would cost about $9.5 trillion, $2.1 trillion above the current capex forecast.