“Hyperscaler AI spending could reach $1 trillion next year, up from about $700 billion this year and roughly $300 billion last year. 'That's like a 1% increase to GDP each year and obviously it may add a little bit to inflation because you're hiring people, you're building factories, you're buying equipment and copper wires, and building powerplants and all of that.'”

Resolves against total 2027 hyperscaler-ecosystem AI capital spending.