---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000832032.md"
description: "Morgan Stanley: Cloud CapExCloud Capital Expenditure (Capex) Surges > Massive Uptick in 2027 Forecasts: Following recent US hyperscaler earnings, consensus for 2027 cloud capex has jumped significantly. The forecast is now tracking at approximately $1.2 trillion, a growth of around 30% year-over-year. This is a dramatic increase of about $170 billion and 15 points higher than predictions made just before the recent earnings. > A "too conservative" Consensus? While the current forecast predicts a slowdown in growth (to 29% Y/Y) for 2027 after an incredibly strong 2026, the report suggests this may be an underestimate. Morgan Stanley's own estimate is even higher at $1.4 trillion. The authors also note that aggregate estimates for the top 14 spenders have gone up in each of the last ten quarters.> The AI Impact: The sharp increase in spending, which is ~4x the historical capital spending intensity average for the sector, is clearly fueled by investment in artificial intelligence. The text notes that the current 2027 growth forecast of 29% implies that non-AI cloud capex growth would be just 7%.> Historical Spending Patterns: A historical chart shows the highly cyclical and recently explosive nature of this spending. Growth was modest for years, with negative growth as recently as 2019 and 2023, before skyrocketing to a projected 97% in 2026 and then potentially cooling to 29% in 2027 (though, as mentioned, that 29% figure is up significantly from a forecast of 14% just a month ago).$Alphabet(GOOGL.US) $Amazon(AMZN.US) $Microsoft(MSFT.US) $Meta Platforms(META.US)"
datetime: "2026-08-03T18:16:55.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000832032.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000832032.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000832032.md)
author: "[Equity research](https://longbridge.com/en/profiles/2071818324550963200.md)"
generator: "portal-rs"
---

# Morgan Stanley: Cloud CapExCloud Capital Expenditu…


### Related Stocks

- [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md)
- [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md)
- [META.US](https://longbridge.com/en/quote/META.US.md)
- [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md)
- [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md)
- [GOOGN.US](https://longbridge.com/en/quote/GOOGN.US.md)
- [MS.US](https://longbridge.com/en/quote/MS.US.md)
- [MS-O.US](https://longbridge.com/en/quote/MS-O.US.md)
- [MS-Q.US](https://longbridge.com/en/quote/MS-Q.US.md)
- [MS-E.US](https://longbridge.com/en/quote/MS-E.US.md)

---
> **Disclaimer: This article is for reference only and does not constitute any investment advice.**