Global investment in artificial intelligence is expected to cross the $1 trillion mark in 2026, according to a new estimate from Goldman Sachs Research. The forecast highlights the extraordinary scale of spending taking place around AI infrastructure, computing capacity and related technologies as companies race to expand their artificial intelligence capabilities. Goldman Sachs estimates that global AI-related investment will reach approximately $1 trillion this year, with the United States accounting for about $581 billion of the total.
The estimate is significantly higher than commonly cited figures for spending by major hyperscale technology companies. Goldman Sachs said its broader calculation includes investment by other AI-exposed public companies, large private businesses and companies outside the US. The research also attempts to remove non-AI spending and avoid double-counting, providing a wider picture of the capital flowing into the AI ecosystem.
The US is expected to remain the dominant market for AI investment. With around $581 billion projected for 2026, American spending alone would represent more than half of the estimated global total. Much of this investment is being directed toward data centres, advanced computing systems, semiconductors, networking equipment and electricity infrastructure needed to support increasingly powerful AI models.
Goldman Sachs estimates that global AI investment will rise from around 0.9% of global GDP in 2026 to approximately 1.4% by 2028. This suggests that AI-related capital expenditure is becoming an increasingly significant component of the world economy. The rapid expansion reflects expectations that demand for AI computing will continue to grow as businesses incorporate AI into products, services and internal operations.
The scale of the spending is also creating a major infrastructure boom. Data centres require enormous amounts of computing power and electricity, while AI developers need increasingly sophisticated chips and networking systems. Goldman Sachs has separately estimated that roughly $7.6 trillion could be invested globally in AI infrastructure between 2026 and 2031 across computing, data centres and power.
However, the investment surge does not automatically mean that the economic benefits will arrive immediately. Goldman Sachs has previously noted that AI adoption and productivity gains can take years to materialise. Businesses need to invest not only in technology but also in workforce skills, organisational changes and complementary infrastructure before AI can translate into broad productivity improvements.
The enormous capital requirements are also encouraging new financing models. Nvidia recently partnered with major financial institutions, including Goldman Sachs, to develop financing platforms intended to mobilise more than $500 billion for AI computing infrastructure. The initiative reflects growing demand for capital to build data centres and other facilities required for the next phase of AI expansion.
As investment continues to accelerate, questions about returns, energy consumption and the sustainability of the AI spending boom are likely to become more important. Companies and investors will increasingly need to demonstrate that massive infrastructure investments can generate sufficient economic value.
For now, Goldman Sachs' forecast underlines the extraordinary financial commitment behind the global AI race. If spending follows the projected trajectory, artificial intelligence will account for an increasingly significant share of global economic activity by 2028, potentially reshaping investment, technology and business strategies worldwide.
