Morgan Stanley CEO Sees AI Spending Reaching $15 Trillion Over Next Decade

Morgan Stanley CEO Ted Pick projected that AI spending could reach $15 trillion over the next decade, while Wall Street executives said capital markets can support the infrastructure buildout.

Pick said the largest technology hyperscalers could invest $800 billion to $1 trillion a year for seven to 12 years. He also projected that AI-driven productivity gains could add 50 to 70 basis points to annual U.S. real gross domestic product growth.

Goldman Sachs CEO David Solomon said capital markets can absorb financing demand as investors assess growing needs for AI and computing power. He cautioned that technology supercycles rarely advance steadily.

Solomon said the cost of capital, rather than the availability of funds, is the main constraint on the size of AI-related deals.