PANews reported on May 11th that, according to JPMorgan Chase's forecast, major U.S. tech companies will invest up to $700 billion in capital expenditures by 2026, with the majority going towards artificial intelligence (AI) infrastructure. Companies like Nvidia rely on Asian suppliers for 90% of their hardware. Recent forecasts for this AI capital expenditure this year and next have been rising, a trend that benefits Asian derivatives of this spending. The capital expenditures by major U.S. tech companies on AI hardware primarily benefit Asian tech companies, while having a relatively small impact on U.S. GDP. JPMorgan Chase emphasizes that emerging market earnings growth is not only more attractive, but also more reasonably valued. The price-to-earnings ratio for this asset class is low in absolute terms and "historically low" compared to developed markets. Furthermore, investor holdings remain low, and capital inflows are accelerating.