Hyperscale companies are making major investments in AI infrastructure, with Alphabet planning $195-$205 billion in capital spending for 2026, driven by an 82% year-over-year increase in Google Cloud revenues for Q2 2026. Meanwhile, PwC estimates that global data-center capital spending will reach $31.6 trillion by 2050, increasing from $800 billion in 2026 to $1.8 trillion by 2050.
In contrast, quantum computing is seeing slower revenue growth, with U.S. companies and the government committing $300 million to firms like D-Wave and Rigetti under the CHIPS and Science Act. Despite this, both companies are still over 25% below their 2026 starting levels. McKinsey projects quantum-computing revenues could reach $4.4 billion by 2028, with over 300 firms exploring the technology.
Key players like Amazon, IBM, and Alphabet are well-positioned for continued growth in both AI and quantum sectors. Amazon reported a 37% surge in AWS sales, reaching a $169 billion annualized revenue run rate, while IBM plans to invest over $10 billion in quantum over the next five years, aiming for significant advancements by 2029.
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