AI is now bigger than oil and gas in terms of capital investment, having topped $400 billion. It is also the largest debt-segment within U.S. investment-grade credit at $1.4 trillion.
Big Tech AI Spending Tops $400B, Now Exceeds Oil And Gas Investment – Yellow.com– news.google.com
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EXCERPT:
Capital spending on AI by five major technology firms has crossed $400 billion, overtaking what the world invests each year in oil and natural gas production.
The shift was flagged by the International Energy Agency in its latest report.
Combined capital expenditure at the five firms topped $400 billion in 2025. The agency expects another 75% jump in 2026.
The numbers reflect a sharp pivot in global capital flows. Data centre development has grown too capital-intensive for corporate balance sheets alone, pulling tech firms deeper into bond markets to fund the buildout.
AI-related debt has now climbed to roughly $1.4 trillion, the largest segment within US investment-grade credit.
