Artificial intelligence (AI) is rapidly becoming a key focus for global technology investment. Major companies like Amazon, Microsoft, Google, Meta, and Oracle are significantly increasing their spending to develop advanced computing systems and build the infrastructure needed for generative AI—technology that can create text, images, and other content. This trend is not limited to the United States; China and the European Union are also ramping up their investments. Experts predict this surge in AI spending will continue through 2026, with some organizations forecasting annual investment growth between 61% and 95%. According to an estimate by Goldman Sachs, as reported by Ahn Jae-kyun from Korea Investment & Securities, the combined AI investments by Alphabet (Google’s parent company), Amazon, Microsoft, and Meta could reach $530 billion between 2025 and 2030. That figure surpasses the annual GDP of Japan or the United Kingdom and is more than the combined GDP of all G7 countries in a single year. In 2026 alone, spending on AI infrastructure could hit $765 billion, according to the same estimates. 2026 is expected to be the peak year for this rapid growth. Various financial institutions have forecasted high growth rates for global AI investments this year, with Gartner projecting 61%, S&P Global 64%, Bank of America 79%, and Bloomberg Intelligence up to 95%. However, the growth is expected to slow in the following years. Gartner predicts a drop to 39% in 2027 and 19% in 2028, while Bloomberg Intelligence forecasts similar figures of 39% in 2027 and 13% in 2028. Despite this slowdown, even a 13% to 19% growth rate would still represent significant investment. The main shift would be a move from rapid, exponential growth to a more stable, normalized phase. While the surge in AI investment is boosting profits for major tech companies, concerns about the sustainability of these investments are growing. The Bank of Korea has warned that AI financing could become a new financial risk. These companies are no longer relying solely on their own liquidity; instead, they have raised $132 billion through bond markets in the first half of this year alone. This increased reliance on external financing comes as credit default swap (CDS) spreads—indicators of investor caution about credit risk—rise for some tech firms. Another layer of uncertainty comes from the way data center infrastructure is being developed. Many of these facilities are built by specialized companies funded by venture capital. These companies then lease the data centers to tech giants under long-term contracts. While this approach allows for quick expansion, it also makes it harder to assess the true financial exposure. As a result, a sudden slowdown in investment cannot be ruled out. If financial conditions worsen or if AI’s actual profitability falls short of expectations, the pace of investment could slow more rapidly.