Op-ed: AI capex forecasted to exceed France's budget by 2028

alexeyguzey · x · 2026-09-02

Alexey Guzey shared an insightful article titled "Nobody is talking seriously about AI demand." The piece forecasts that AI capital expenditure in 2028 will be larger than the budget of France. It argues that the revenue ramp of frontier AI labs justifies almost any level of spending currently, but warns that reflexivity in AI demand is a double-edged sword and has now become a significant risk factor to consider.

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