BofA Projects $1.4T AI Capex by 2030

BofA forecasts AI infrastructure spending to nearly triple, reaching $1.4 trillion annually by 2030.
Analysts expect 25‑30% capex intensity as hyperscalers and sovereigns upgrade IT, prioritizing AI compute, semicaps, networking, and memory.
BofA highlights Nvidia, Broadcom, AMD, and Micron as top AI chip picks, noting Nvidia’s $4.3 trn market cap and Blackwell roadmap.
Broadcom’s OpenAI chip deal could generate billions through 2029; Micron plans $25 bn FY‑2026 investment, with HBM sold out.