""The price of oil has very little to do with it. The closest direct effect we can get is in some countries, the price of electricity will come up. There's some countries in Asia-Pacific where it's an issue. To say that a business or a technology provider is going to change their plans based on the price of electricity just isn't [true].""
""All the extra spending is the tech providers, the hyperscalers, still building out these datacenters, still building new foundational technology together for us to use for AI and we're still building the AI models.""
Gartner has increased its global IT spending growth forecast to 13.5 percent by 2026, reaching $6.31 trillion. The conflict in the Middle East has caused a spike in oil and gas prices, but this has little direct impact on IT spending. John-David Lovelock noted that while there may be indirect effects on business and consumer confidence, evidence of this is lacking. Consumer IT spending is growing slowly at 4.1 percent, while enterprise IT growth is around 7 percent, primarily driven by hyperscalers and AI investments.
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