Citigroup on Tuesday increased its projections for global artificial intelligence capital expenditure and revenue from 2026 to 2030, citing accelerated enterprise demand and application rates.

The bank stated that AI tools will evolve rapidly, giving rise to new enterprise-level applications and driving the adoption of intelligent agent systems and workflows. Citigroup raised its forecast for global AI capital expenditure between 2026 and 2030 from the previous $8 trillion to $8.9 trillion. Hyperscale cloud providers—Amazon, Microsoft, Alphabet, and Meta Platforms—are expected to collectively spend over $630 billion in capital expenditures this year. The bank also projected that global AI revenue from 2026 to 2030 would be significantly revised upward from the earlier estimate of $2.8 trillion to $3.3 trillion. AI startup Anthropic is anticipated to achieve annualized revenue of $26 billion by 2026, while OpenAI, the developer of ChatGPT, reported its annualized revenue has surpassed $25 billion, up from $21.4 billion at the end of last year. Citigroup believes that the recent underperformance of hyperscale cloud provider stocks following last month's sell-off in AI-related tech shares presents a buying opportunity. "The market remains focused on challenges such as global data center capacity expansion, rising financing needs, and heightened competition, but is overlooking the high returns from these investments and early signs of an enterprise-driven productivity cycle."