AllianceBernstein’s fixed-income team, led by Thierry Taglione, stated on September 15 that public calls from AI executives to slow development will not disrupt tech fundraising or capital expenditure plans. The firm forecasts that major hyperscalers will collectively spend over $1 trillion on capital projects in 2027.
The firm notes that hyperscalers plan data center infrastructure over three-to-five-year horizons. These long-term financial commitments are structured to remain stable despite shifts in public sentiment or executive commentary regarding AI development pace.
While the bond team remains optimistic about fundraising, equity investors have shown concern. Markets have begun pricing in uncertainty, leading to valuation corrections in sectors adjacent to AI. Shares of companies such as GE Vernova and Caterpillar declined following recent industry announcements.
AllianceBernstein acknowledges that while capital spending will exceed $1 trillion in 2027, growth rates are expected to moderate in the following years. This potential deceleration in spending could present broader risks to the expansion of the US economy.
