JPMorgan Raises 2030 AI Infrastructure Investment Forecast to $5.5 Trillion

JPMorgan strategists led by Tarek Hamid raised their forecast for total investment in AI infrastructure through 2030 to $5.5 trillion, up $400 billion from their November estimate. According to ChainCatcher, the bank expects about $4.1 trillion of that spending to be funded through debt, with loans covering an average of 85% of total project costs, signaling a shift toward debt-market-led financing for AI capital expenditure. Since November, global bond issuance tied to AI and data centers has exceeded $300 billion, the report said. As a recent example, chipmaker Nvidia priced a $25 billion investment-grade bond deal on Monday, marking its first return to the bond market in five years. The offering was split into seven tranches with maturities ranging from two to 30 years, drew about $85 billion in orders, and was increased by 25% from the initial target size. The report added that despite strong cash generation at major technology firms such as Nvidia, Alphabet, and Amazon, they are still issuing hundreds of billions of dollars in bonds, which JPMorgan said indicates credit markets are actively pricing AI-related assets rather than companies borrowing due to cash shortages.