Wall Street Executives: Strong Demand for Large-Scale AI Financing Deals, Cumulative Spending Could Reach $15 Trillion Over the Next Decade

November 3: At the HKMA Global Financial Leaders' Investment Summit in Hong Kong, Wall Street executives said capital markets will continue to provide financing for global AI infrastructure buildout, according to Bloomberg. Morgan Stanley CEO Ted Pick expects cumulative AI spending could reach $15 trillion over the next decade, with the largest tech hyperscalers potentially investing $800 billion to $1 trillion annually over the next 7 to 12 years. Pick said the game is roughly in the third inning of nine.

Goldman Sachs CEO David Solomon said that as investors assess the surge in AI and computing power demand, capital markets still have the capacity to absorb it, and financing needs will be well met. But he cautioned that technology super-cycles rarely move in a straight line, and that the main constraint on deal size is the cost of capital rather than the availability of funds. Pick expects long-term returns will be sustainable, with productivity gains potentially driving US real GDP growth by 50 to 70 basis points a year. Solomon also said AI accountability should ultimately rest with individuals rather than systems.