The forecasts that matter — and whether they're coming true

Each card shows who made the call and when, the number, why they think so, what it means for stocks, and our read on whether the latest data is tracking it.

All Data-center capacity Power Capex Chips & memory Optics

RaisedOn trackWatchAt risk Raised = since revised up · At risk = data running away from the call (either direction)

Evercore / BofA / Goldman · 2026-09

On track

$1T+MSFT + GOOGL + AMZN + META capex · by 2027

Combined hyperscaler capex tops $1 trillion in 2027 (Goldman: ~$1.14T), after ~$725B in 2026.

Why: 2026 guides were raised through the year (Amazon to ~$220B, Alphabet $195–205B). Consensus tables put 2027 at ~$935B for the big four alone.
What it means: Sets the revenue ceiling for every AI supplier. The key risk: free-cash-flow pressure leads one hyperscaler to cut, and others follow.
Status: Q3 hyperscaler earnings (late Oct) are the next test.

MSFT+2.8%GOOGL−7.4%AMZN+0.0%META−15.0%NVDA−4.0%AVGO−6.3%

Source ↗

Stock figures next to each card are 1-month price changes. Forecasts are summarised from the linked public sources; where only secondary coverage was available we say so. Status is our editorial judgement. Not investment advice.