Some analysts have begun to warn that the pace of capex growth will start to slow down this year and next. In South Korea, Samsung also said it would grow AI capex. Much of that cash will be spent on AI data centers. Here’s a selection of estimates from various Wall Street analysts:Goldman Sachs predicts AI capex will hit $539 billion, up 36% from $398 billion in 2025. Analyst Ben Snider and his colleagues warn that the slowing growth rate of AI capex will force investors to choose winners and losers.