Jefferies: U.S. AI Capital Expenditure Expected to Peak This Year, Bullish on China's AI Applications

WealthCoffee · 2026-03-19T07:51:45+00:00

Jeffrey Glekel Global Equity Strategy Head Christopher Wood predicts that US artificial intelligence capital expenditure will peak in 2026, while China's capital expenditure will continue to grow, primarily benefiting from the continuous development of China's AI applications. Additionally, Nvidia CEO Jensen Huang expects that by the end of 2027, the company's AI infrastructure order revenue will reach $1 trillion.

WealthCoffee

2026-03-19 07:51:45

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[Caixin] Jefferies Global Equity Strategy Head Christopher Wood predicts that U.S. capital expenditure on artificial intelligence (AI) will peak in 2026. Meanwhile, China’s AI capital expenditure continues to rise, driven by the ongoing development of AI applications in China.

Christopher Wood made this statement at the Jefferies Asia Forum held in Hong Kong from March 17 to 19, 2026. He has been writing the renowned investment newsletter Greed and Fear for over 20 years, warning about the internet bubble and the early signs of the U.S. real estate bubble.

Nvidia founder and CEO Jensen Huang announced at the 2026 GPU Technology Conference (GTC) in San Jose, California, on March 16, that by the end of 2027, revenue from AI infrastructure-related orders (mainly data centers) will reach $1 trillion, doubling the previous estimate of $500 billion in sales for the Blackwell and Rubin chips by the end of 2026.

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