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Story summary
- TCW portfolio manager Eli Horton says the energy transition will drive $5 trillion in spending by decade’s end, citing energy security, demand and decarbonization.
- Analysts expect AI hyperscaler capex to exceed $800 billion in 2026—a 67 % rise from 2025—and to hit $1 trillion in 2027 if revenue and cash flow improve.
- Bank of America (BofA) says AI semiconductor vendors should keep pricing power and margins as compute firms pass cost hikes to customers.
