JPMorgan Chase forecasts global AI-related capital expenditure to reach $870 billion by 2026, marking a 77% increase year-on-year, according to a report by TechFlow Research. Hyperscalers are expected to contribute approximately $750 billion to this total. The report highlights significant growth for major tech companies in 2027, with Google and Amazon each projected to spend around $300 billion, and Meta about $200 billion, reflecting growth rates of 54% and 42% respectively. The report also notes a substantial rise in bond financing among the top five tech giants, increasing from $40-50 billion in 2022 to approximately $190 billion by 2026. Additionally, Google completed $85 billion in equity financing in June, underscoring the shift in funding focus from hardware to cloud infrastructure.