Nvidia Forecasts $1 Trillion Big-Tech Capex in 2027, Fueling AI Memory Supercycle

Nvidia's latest projection that data-center capital expenditures will reach $1 trillion in 2027 and potentially $3-4 trillion annually by 2030 has reinforced the AI infrastructure boom narrative. The forecast follows Micron's entry into the $1 trillion market-cap club on May 29 after an 830% 12-month rally, driven by HBM and DRAM shortages. Earlier milestones included SK Hynix's similar valuation surge, Deloitte's prediction that inference would account for two-thirds of AI compute in 2026, and Evercore's $1 trillion AI-spending outlook. Memory suppliers continue to benefit from acute supply constraints and hyperscaler demand, though analysts caution about elevated valuations and potential cyclical risks.