McKinsey & Company has released a report projecting that spending on artificial intelligence (AI) infrastructure will reach $6.7 trillion by 2030. This estimate is based on the assumption that nearly $3.1 trillion of this amount will be allocated towards chip designers for AI-equipped data centers.
Key Drivers of AI Infrastructure Spending
The report highlights ongoing spending from cloud hyperscalers, including:
- Microsoft Corp.
- Alphabet Inc.
- Amazon.com Inc.
These companies have been investing heavily in data center buildouts and graphics processing units (GPUs), which are critical components of AI infrastructure.
The "Magnificent Seven"
A group of tech giants known as the "Magnificent Seven"—including Microsoft, Alphabet, and Amazon—are partnering with high-profile businesses like OpenAI LP and Anthropic Inc. to integrate large language models (LLMs) and generative AI into their ecosystems. This collaboration has led to significant growth in areas such as:
- Cybersecurity
- Workplace productivity software
- Cloud computing infrastructure
Capital Expenditures Forecast
In the past year alone, these companies are forecasted to spend nearly $260 billion on capital expenditures combined through Q2 2025 earnings season—roughly one-third more than what they spent during all of fiscal year 2024 combined.
Meta Platforms Inc., another major player in the tech industry, has also raised its capex budget for 2025 after cutting back significantly last year due to economic downturns caused by inflationary pressures.
Semiconductor Stocks Positioned for Growth
As investors look to capitalize on McKinsey’s forecast around rising AI-related capital expenditures, several semiconductor stocks are well-positioned for growth:
- NVIDIA Corp.
- Advanced Micro Devices Inc.
- Broadcom Incorporated
- Taiwan Semiconductor Manufacturing Co.
Company Highlights
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NVIDIA Corp.: A leading provider of GPUs used in data centers worldwide, with its chips accounting for about half or more of all GPU shipments globally. The company’s recent partnership with Meta Platforms is expected to drive growth in its gaming business segment.
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Advanced Micro Devices Inc.: Known for its Ryzen processors widely used across PCs. The recent acquisition of Xilinx Ltd.’s programmable logic division has expanded its product offerings beyond CPUs.
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Broadcom Incorporated: Provides semiconductors used extensively across various industries, including networking equipment manufacturers like Cisco Systems Inc. The recent acquisition of VMware Holdings LLC will expand its presence in enterprise software.
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Taiwan Semiconductor Manufacturing Co.: The world’s largest contract chipmaker is poised for growth due to increased demand from cloud hyperscalers like Microsoft, Amazon, and Alphabet. The company’s stock price surged after announcing plans to invest an additional $44 billion over three years at existing facilities in Taiwan and China.
Conclusion
Overall, the report highlights the growing importance of artificial intelligence infrastructure spending and identifies several semiconductor stocks that are well-positioned for success in this emerging market.
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