When it comes to artificial intelligence (AI) expenditures, at least two themes have become increasingly prominent in recent years: the acceleration of that spending and doubts about whether consistently rising AI spending is justified.
There will likely always be lingering doubts, but in what could be excellent news for investors considering ETFs such as the Invesco QQQ Trust (QQQ ) and the Invesco NASDAQ 100 ETF (QQQM ), AI spending is expected to surge this year and in 2027.
In a new report, research firm Gartner says AI spending will increase to $2.53 trillion this year. That’s before soaring to $3.33 trillion in 2027. The 2026 forecast implies a 44% year-over-year increase, and both years’ estimates are bigger than the GDPs of many countries.
“AI adoption is fundamentally shaped by the readiness of both human capital and organizational processes, not merely by financial investment,” said John-David Lovelock, Distinguished VP Analyst at Gartner. “Organizations with greater experiential maturity and self-awareness are increasingly prioritizing proven outcomes over speculative potential.”
QQQ Benefits From AI Spending Boom
When it comes to accessing investments tethered to AI spending, QQQ and QQQM stand out for several reasons. That includes the point that the ETFs are heavily allocated to both AI enablers and hyperscalers. Then there’s the added benefit of not having to select individual stocks because performances among AI-related equities, including QQQ/QQQM holdings, aren’t uniform.
The breadth of the ETFs is important because AI spending is expected to become increasingly diverse. This means it won’t be a single theme that captures the bulk of that capital.
“Building AI foundations alone will drive a 49% increase in spending on AI-optimized servers for 2026, representing 17% of total AI spending. AI infrastructure will also add $401 billion in spending in 2026 as a result of technology providers building out AI foundations,” adds Gartner.
Another factor could bode well for QQQ and QQQM regarding AI spending. Enterprise customers who increase AI expenditures are likely to do so with established vendors rather than embracing unfamiliar faces. That’s likely to be a positive for large QQQ/QQQM member firms that have considerable scale. After all, the publicly traded spenders have to prove return on investment (ROI) to analysts and shareholders.
“Because AI is in the Trough of Disillusionment throughout 2026, it will most often be sold to enterprises by their incumbent software provider rather than bought as part of a new moonshot project,” said Lovelock. “The improved predictability of ROI must occur before AI can truly be scaled up by the enterprise.”
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