Citi forecasts $2.8T in AI infrastructure spending by 2029
On October 4, 2025, Citigroup raised its projection for global AI-related capital expenditures, estimating that Big Tech’s investment in compute, data centers, and hardware will exceed $2.8 trillion through 2029 The revised forecast reflects accelerating demand from enterprises and cloud providers. This suggests infrastructure is becoming the backbone of the next AI wave, overshadowing end-user apps in long-term impact.