Walmart to Benefit from Hyperscalers' Big Spending -- Market Talk

Dow Jones02-10 00:40

1140 ET - Hyperscalers' massive capital spending will help power agentic shopping, making Walmart an AI winner despite it not having to make big investments itself, say Mizuho analysts David Bellinger and Declan Kelley. "We believe the company can effectively 'borrow' the CapEx of hyperscalers to its advantage, translating certain technologies into the WMT ecosystem via partnerships or other means," the analysts say. The top public hyperscalers are set to spend more than $3 trillion in capital expenditures from 2025 to 2029. "A significant portion of this collective spend should go towards building out the AI infrastructure layer, including some piece that will eventually power agentic shopping technologies," the analysts say. (nicholas.miller@wsj.com)

(END) Dow Jones Newswires

February 09, 2026 11:40 ET (16:40 GMT)

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