BroadChain learned that on April 27 at 13:16, according to BeInCrypto, data from the International Energy Agency (IEA) shows that the total capital expenditure of the top five tech companies in 2025 exceeds $400 billion, with an expected increase of 75% in 2026. AI infrastructure investment has already surpassed global oil and gas production investment.
Demand is equally strong, with major AI model providers seeing a threefold increase in active users and a fivefold surge in revenue over the past year. However, the capital intensity of data center construction has exceeded the self-funding capacity of enterprises, leading to a surge in external financing needs. AI-related debt has climbed to $1.4 trillion, becoming the largest segment of the US investment-grade credit market.
The IEA points out that data center expansion and energy consumption growth will be highly dependent on market sentiment. Investors' expectations for returns on AI infrastructure and macro financing conditions will determine the pace of industry expansion. AI-related companies currently account for a record 45% of the total market capitalization of the S&P 500, indicating that AI has become a core force in global capital allocation.