2027 AI Spending Swing Could Shift S&P 500 Earnings Growth 6 Percentage Points

A $250 billion difference from the 2027 spending forecast for major U.S. hyperscalers would shift S&P 500 earnings growth by roughly 6 percentage points, showing how closely index profits are tied to AI investment. The forecast puts their capital spending at $1.2 trillion in 2027. Spending above that level would raise estimated earnings growth; spending below it would lower growth. The 6-percentage-point figure describes the sensitivity of earnings growth, not a projected move in the S&P 500’s share prices. The largest U.S. hyperscalers are projected to spend $800 billion in 2026, up 94% from 2025, and $1.4 trillion in 2028.

Source: TokenPost