Last year estimated spend was $380 billion and this year it's $680 billion [0] just for the big five. Given global projections through 2030 being as high as 7 trillion [1], OPs comment seems at least the right order of magnitude.

[0]: https://futurumgroup.com/insights/ai-capex-2026-the-690b-inf...

[1]: https://www.mckinsey.com/industries/technology-media-and-tel...