[Morgan Stanley CEO: AI capital expenditures may reach US$15 trillion in the next ten years] On November 3, Morgan Stanley CEO Ted Pick said that capital expenditures in the field of artificial intelligence (AI) may reach US$10 trillion to US$15 trillion in the next ten years, further consolidating this technology's status as the most significant force for economic change since the birth of the Internet. When it comes to the scale of investment in data centers and computing power, Pick estimates that in the next 7 to 12 years, the annual investment by large technology hyperscale cloud service providers may reach 800 billion to 1 trillion US dollars. Although Wall Street has been questioning whether the huge cloud computing spending will be profitable in the near future, Pick believes that these investments are still in the early stages. "We are now probably in the second inning of a nine-game game," Pick said. "The range of $10 trillion to $15 trillion is indeed very large, but if you consider building these infrastructures and pushing products forward, this number is not unreasonable." Pick also uses stock valuations to measure the size of the expected spending. He pointed out that although the final investment of US$10 trillion to US$15 trillion is considerable, compared with the total market value of the S&P 500 index of approximately US$70 trillion, it still needs to be viewed in this context. He also said that US$2 trillion to US$3 trillion of capital has been committed or has been implemented.