Goldman Sachs expects five major U.S. cloud companies to increase AI infrastructure investment 54% to $1.2T in 2027, exceeding Wall Street forecasts. •    Companies covered: The forecast includes AMZN, GOOGL, MSFT,ORCL, and META. •    This-year spending: Goldman expects the five companies to spend about $800B this year. •    Revenue requirement: The bank estimates hyperscalers need roughly $300B in annual AI-related revenue to break even. •    Funding constraint: Growing financing requirements could limit how quickly the companies expand investment. •    Buildout constraint: Infrastructure bottlenecks could also slow the pace of future spending growth. 25-SEP-2026 08:34 AM ET