AI CAPEX AND EARNINGS : WHAT HAPPENS WHEN GROWTH SLOWS

What happened: Goldman Sachs estimated that almost half of S&P 500 earnings growth this year traces back to AI capex, and that supplier profits depend on spending continuing to accelerate, not just stay high. Key numbers: Goldman puts hyperscaler capex at $800 billion in 2026, up 94% from 2025, then $1.2 trillion in 2027 and $1.4 trillion in Why it matters: The content argues that flat spending would freeze supplier revenue while buyer depreciation keeps climbing, and that a linear extension of Goldman's sensitivity implies earnings growth near 1% if 2027 capex merely matched 2026's record. Coverage: 4 outlets in 24h

Goldman Sachs estimated that almost half of S&P 500 earnings growth this year traces back to AI capex, and that supplier profits depend on spending continuing to accelerate, not just stay high.

The content argues that flat spending would freeze supplier revenue while buyer depreciation keeps climbing, and that a linear extension of Goldman's sensitivity implies earnings growth near 1% if 2027 capex merely matched 2026's record.