Bank of America projected that AI capital expenditures (capex) will reach 94% of operating cash flow (after subtracting dividends and buybacks) through 2026.
December 31, 2026
high
temporal
Projection of AI-related capital spending relative to companies' operating cash flow, excluding dividends and buybacks.
A Bank of America report found that credit and debit card spending per household increased 2.0% year-over-year in September 2025, up from a 1.7% year-over-year increase in August 2025.
September 01, 2025
high
temporal
Year-over-year household card spending growth reported by Bank of America.
Bank of America reported that AI capital expenditures (capex) were 76% of operating cash flow (after subtracting dividends and buybacks) in 2024.
December 31, 2024
high
temporal
Historical level of AI-related capital spending relative to companies' operating cash flow, excluding dividends and buybacks.
Merrill Lynch operates as the wealth management/investment division of Bank of America.
high
organizational
Corporate relationship between Merrill Lynch and Bank of America in the wealth management and investment services sector.