Morgan Stanley predicts that global cloud computing capital expenditure will reach 1.2 trillion US dollars in 2027, an increase of 30% over the previous year, and 170 billion US dollars higher than the estimate before the second quarter. The company said the four major US hyperscale cloud service providers are still facing capacity limitations as demand for artificial intelligence continues to exceed supply. Alphabet, Amazon, and Meta all raised their 2026 capital expenditure guidance, while Microsoft maintained its spending outlook.

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