According to Morgan Stanley data, the five largest cloud vendors, superimposed chip companies Nvidia and Broadcom, have committed a total of more than 3.1 trillion US dollars to support the construction of artificial intelligence infrastructure by third parties through guarantees, leases, and other forms of financial support. According to the research report led by analyst Todd Castagno, the five major cloud vendors include Google, Amazon, Meta, Microsoft, and Oracle. Among them, Google is far ahead with a total commitment of 890 billion US dollars, mainly procurement commitments. Overall, “According to the latest US Securities and Exchange Commission filings, the total amount of undiscounted promises made by cloud vendors exceeds 2.7 trillion US dollars, which is about equivalent to their current three-year operating cash flow.” The group's estimated cash capital expenditure in 2027 will exceed 1.2 trillion US dollars, while the expected cash flow is about 1 trillion US dollars. Morgan Stanley estimates that over 40% of the cloud vendor's revenue has been re-invested in artificial intelligence capital expenses.

According to Morgan Stanley data, the five largest cloud vendors, superimposed chip companies Nvidia and Broadcom, have committed a total of more than 3.1 trillion US dollars to support the construction of artificial intelligence infrastructure by third parties through guarantees, leases, and other forms of financial support. According to the research report led by analyst Todd Castagno, the five major cloud vendors include Google, Amazon, Meta, Microsoft, and Oracle. Among them, Google is far ahead with a total commitment of 890 billion US dollars, mainly procurement commitments. Overall, “According to the latest US Securities and Exchange Commission filings, the total undiscounted commitment of cloud vendors exceeds 2.7 trillion US dollars, which is about equivalent to their current three-year operating cash flow.” The group's estimated cash capital expenditure in 2027 will exceed 1.2 trillion US dollars, while the expected cash flow is about 1 trillion US dollars. Morgan Stanley estimates that over 40% of the cloud vendor's revenue has been re-invested in artificial intelligence capital expenses.