[Goldman Sachs: AI Investment Focus Shifts to Physical Industries, Capital Expenditure May Reach $7.6 Trillion Over the Next 6 Years] According to a report by Jinse Finance on July 6, Goldman Sachs stated in its latest report that the focus of artificial intelligence (AI) investment has begun to extend into the broader physical economy. While computing power, electricity, and data centers are still being rapidly developed, AI has simultaneously entered real-world scenarios such as manufacturing, energy, logistics, defense, life sciences, and robotics. From 2026 to 2031, global AI capital expenditure on computing, data centers, and electricity is expected to reach approximately $7.6 trillion, with annual investment rising from $765 billion in 2026 to $1.64 trillion in 2031. Hyperscale cloud providers' AI investments may exceed $6 trillion by 2030. The key to future competition will not only lie in models or chips but also in capital structure, energy supply, industrial data, engineering capabilities, and deployment capacity.