Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The AI arms race is heating up, and its effects are starting to show up where investors actually care – on the Big Tech balance sheets. According to UBS, global AI capex is now expected to hit $423 billion in 2025, and$571 billion in 2026. By 2030, UBS expects spending to reach $1.3 trillion, implying a 25% compound annual growth rate. Those numbers aren't abstract anymore. They're turning into debt iss ...