<div id="readability-page-1"><div> <ul><li> Goldman Sachs says the capex supercycle fueled by AI investment is just kicking off. </li><li> Hyperscalers' AI spending is expected to hit $757B this year, and $920B in 2027. </li><li> The bank shared 16 US-based tech stocks set to benefit from the spending spree. </li> </ul> Despite investors' fears last year that all of the AI capex from hyperscaler firms was getting long in the tooth, Goldman Sachs says the spending spree is just kicking off. &#34;A capex supercycle is taking hold,&#34; Peter Oppenheimer, the bank's chief global equity strategist, said in a client note on Tuesday. Hyperscalers are expected to spend $757 billion this year, up 84% from last year, followed by another $920 billion in 2027, the bank said. The spending glut has significantly boosted earnings for companies positioned to benefit from the AI buildout — which has been worth its weight in gold in the current market environment, the bank said. &#34;In a higher cost-of-capital environment where multiple expansion is more limited, this combination of earnings growth and positive revisions remains a key driver of outperformance,&#34; Oppenheimer wrote. To take advantage of the ongoing trend, the bank listed dozens of stocks around the world that are capex beneficiaries, as measured by the correlation between their sales performance and global spending rates. Below are the 16 US tech-sector stocks, along with their industry groups, market capitalizations, and their forward next-12-months price-to-earnings ratios. Apple <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Computer Hardware Market Cap: $4,275.9 billion NTM P/E: 31.0x TD SYNNEX <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Computer Hardware Market Cap: $22.6 billion NTM P/E: 15.5x Nebius <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Consumer Digital Services Market Cap: $58.5 billion NTM P/E: N/A Amphenol <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Electronic Components Market Cap: $189.2 billion NTM P/E: 30.0x TE Connectivity <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Electronic Components Market Cap: $61.4 billion NTM P/E: 17.2x Lam Research <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Production Technology Equipment Market Cap: $458.7 billion NTM P/E: 46.3x Applied Materials <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Production Technology Equipment Market Cap: $450.4 billion NTM P/E: 38.2x Broadcom <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Semiconductors Market Cap: $1,817.7 billion NTM P/E: 23.2x Advanced Micro Devices (AMD) <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Semiconductors Market Cap: $834.2 billion NTM P/E: 50.6x Analog Devices <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Semiconductors Market Cap: $203.5 billion NTM P/E: 30.2x NXP Semiconductors <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Semiconductors Market Cap: $77.0 billion NTM P/E: 19.0x Microchip Technology <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Semiconductors Market Cap: $51.6 billion NTM P/E: 28.5x Oracle <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Software Market Cap: $529.6 billion NTM P/E: 22.5x Fortinet <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Software Market Cap: $107.2 billion NTM P/E: 44.7x Cadence Design Systems <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Software Market Cap: $106.2 billion NTM P/E: 44.8x MongoDB <figure><div> </div> <figcaption>BI </figcaption> </figure> Industry: Software Market Cap: $27.6 billion NTM P/E: 52.2x If you enjoyed this story, be sure to follow Business Insider on Yahoo. </div></div>

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Goldman Sachs identifies a new AI capex supercycle, projecting hyperscaler spending to reach $757B this year and $920B by 2027. The bank recommends 16 US tech stocks poised to benefit from this investment surge, including Apple, Broadcom, AMD, Oracle, and Lam Research, citing strong earnings growth potential despite higher capital costs.

- Goldman Sachs highlights that the capex supercycle driven by AI investment is just beginning, with hyperscalers expected to spend $757 billion this year and $920 billion by 2027.  
- The bank identified 16 U.S.-based tech stocks poised to benefit from this trend, noting significant earnings growth amid a challenging capital environment.  
- Peter Oppenheimer, Goldman’s chief global equity strategist, emphasizes that this spending surge is a crucial driver of market performance and stock outperformance.

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Goldman Sachs says buy these 16 tech stocks positioned to win as an AI-capex supercycle juices earnings