Morgan Stanley CEO Ted Pike said capital expenditure in the AI sector could reach $10 trillion to $15 trillion over the next decade, which will solidify the technology's position as the most significant economic transformation since the birth of the internet. In terms of the scale of data center and computing investments, Pique estimates that leading hyperscale technology companies could deploy between $800 billion and $1 trillion a year over a period of 7 to 12 years. Despite Wall Street questioning the short-term profitability of large-scale cloud investments, Pique believes the deployment is still in the formative stages. Pique said, “We are now probably in the second game of nine games. $10 trillion to $15 trillion — this is a huge range, but it's not unreasonable to consider investing so much money to build this product, which will drive the product forward.” Pique compared estimated expenses with stock valuations, pointing out that although the total cost of the final 10 trillion to 15 trillion US dollars is quite huge, compared with the market value of about 70 trillion US dollars in the S&P 500 index, there is still not much difference. He also added that $2 trillion to $3 trillion of this has already been implemented or put into use. Pique believes that in the long run, the return on this investment will be durable, and he estimates that the productivity dividend can increase America's real GDP by 50 to 70 basis points each year.

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