prediction
The AI capital expenditure cycle is likely to lengthen overall.
A prediction by 모건스탠리. Statements are as reported by the cited publishers — not verified by DecisionGateway.
AI 자본지출 사이클도 전반적으로 길어질 가능성이 있음
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If the virtuous cycle is confirmed, slowing Capex could instead be the starting point for investment efficiency and FCF recovery, but if monetization of final demand is delayed, utilization, unit prices and OCF recovery will also be delayed and the timing of normalizing the AI investment cycle will be pushed back.하나 자산배분/해외크레딧 이영주 · predictionAs AI capital expenditure expands faster than OCF, 2027 is likely to be the period when major AI companies' FCF deficits are largest.하나 자산배분/해외크레딧 이영주 · predictionAI Capex momentum remains strong.리서치센터 · predictionConcerns over an AI CapEx slowdown are already largely priced in.대신증권 이경민 · statementAlthough new data center permitting delays may slow the pace of investment, the total amount of AI investment will be maintained.FICC리서치부 전략/시황: 이경민 · predictionGlobal AI computing demand continues to increase, with US major cloud providers' 2026 capex estimated to grow 77% year-on-year and still have 33% growth room in 2027.韋音如 · prediction
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