Morgan Stanley: AI Adoption Rate To Outpace Past Tech Cycles, But Measurable Economic Impact May Not Arrive Until Late Decade

AI adoption rates may be the single most important metric of this cycle. Trillions of dollars in market capitalization for Mag7 stocks and hundreds of billions in hyperscale data center buildouts hinge on this one question: How fast will companies actually adopt AI? Goldman pegs current adoption at roughly 9.2% economywide, while skeptics like Elliott Management dismiss the trend as "overhyped."