IT Spending Survey: AI momentum continues to build against a more muted broader outlook

Research evidence excerpt

IT Spending Survey: AI momentum continues to build against a more muted broader outlook

Equity Research

17 June 2026 | 12:02AM EDT

AMERICAS TECHNOLOGY

IT Spending Survey: AI momentum continues to build against a more

muted broader outlook

Gabriela Borges, CFA

+1(212)902-7839 |

gabriela.borges@gs.com

Goldman Sachs & Co. LLC

Michael Ng, CFA

+1(212)902-8618 | michael.ng@gs.com

James Schneider, Ph.D.

IT spending intentions moderated slightly in our May 2026 survey +1(212)357-2929 |

jim.schneider@gs.com

Our overall IT Spending Index decreased to 65.0 from 68.0, and our IT Capital Goldman Sachs & Co. LLC

Spending Index decreased to 59.0 from 65.5. Both indices have consecutively Eric Sheridan

decreased since our November 2024 survey (79.0 and 69.0, respectively). The +1(917)343-8683eric.sheridan@gs.com|

indices are below the 10-year average of 73.5 and 67.1 respectively (excluding Goldman Sachs & Co. LLC

Katherine MurphyCOVID-impacted results in Jun/Dec 2020), but are well above the +1(212)902-1151 |

contraction/expansion breakpoint of 50. We suspect that the moderation may be katherine.a.murphy@gs.comGoldman Sachs & Co. LLC

tied to ongoing AI evaluations, such that a) there may be some crowding out of Selina Zhang

category spend not tied to AI; b) there may be some hesitancy on committing to +1(212)357-9979 | selina.zhang@gs.com

larger IT projects before the impact of AI on core budget categories is clear. In Goldman Sachs & Co. LLC

categories that require equipment procurement, the uneven demand Max Gamperl

+1(415)249-7311 |

(servers/storage/PC spend up, networking/firewall more mixed) likely reflects max.gamperl@gs.com

ongoing macro uncertainty, including volatility in the trade/tariff environment and

Luya You

commodity supply tightness. +1(212)902-5297 | luya.you@gs.com