The US is pouring more capital into AI

United States tech giants are expected to spend about $764bn on artificial intelligence (AI) infrastructure in 2026, compared with $102bn for their Chinese counterparts.

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US hyperscalers include Amazon Web Services, Microsoft, Google, Meta and Oracle. Chinese hyperscalers include Alibaba, Baidu, Tencent and ByteDance.

Source: Goldman Sachs, International Monetary Fund | April 2026