Goldman Sachs Projects $700 Billion in Artificial Intelligence (AI) Capex This Year. Here's My Top Stock to Buy.

Goldman Sachs (NYSE: GS) is one of many companies making bold projections about the capital spending needed to build out artificial intelligence (AI) infrastructure. It believes $500 billion is likely, but suggests that $700 billion would be more in line with peak telecom spending levels seen in the late 1990s. Even at $500 billion, that's a lot of money being spent in a short period of time. Bottlenecks are likely to appear and possibly constrain the amount invested. Brookfield Renewable (NYSE: BEP)(NYSE: BEPC) is already helping to solve a key issue for AI's development, and it will benefit for years to come. Here's why you might want to buy this clean energy stock today.One of the biggest selling points for Brookfield Renewable in the AI buildout is that it is already working with Microsoft (NASDAQ: MSFT) and Alphabet's (NASDAQ: GOOG) Google. Between the two technology giants, it has a pipeline of around 13.5 gigawatts of demand to satisfy. That's just the headline story, too, as Brookfield Renewable continues to work to secure other long-term deals and has a large portfolio of existing contracts for clean and renewable power.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool