Core Insights - Citigroup analysts have revised their forecast for AI infrastructure spending by hyperscalers to $490 billion for next year, up from a previous estimate of $420 billion, indicating strong demand and slightly exceeding Wall Street consensus [2] - The AI infrastructure boom has significantly contributed to U.S. stock market gains and economic growth, but reliance on debt for funding these investments poses risks to the broader economy [3] Spending Trends - Recent partnerships, investments, and product announcements reflect a surge in AI demand, with increased urgency for adoption at the enterprise level, benefiting AI infrastructure providers like Nvidia [4] - The shift from cash flow funding to debt funding for infrastructure investments introduces new risks, including potential defaults and interest rate vulnerabilities [5][7] Company-Specific Developments - Oracle recently issued $18 billion in bonds, the second-largest U.S. debt deal of the year, to finance its cloud capacity expansion in line with a $300 billion deal with OpenAI, with capital expenditures expected to rise to $58 billion by fiscal year 2027 [6]