What is Morgan Stanley?

Morgan Stanley raised its 2035 GLP-1 sales forecast from $150B to $190B (diabetes and obesity only), implying 30% penetration among obese Americans versus 6% last year.

“Morgan Stanley raised its 2035 GLP1 sales prediction from 150 billion to 190 billion from diabetes and obesity alone. That would mean 30% penetration by then amongst obese Americans, up from 6% last year.”

Morgan Stanley projects hyperscaler AI capex at $800 billion in 2026 and $1.1 trillion in 2027.

“The hyperscalers, according to Morgan Stanley, are going to spend 800 billion this year, 1.1 trillion next year.”

Microsoft reports over 30% return on invested capital in tokens-as-a-service, per a Morgan Stanley report cited by Satya Nadella.

“Satya is out this week saying, you know, citing Morgan Stanley's report and saying they're seeing over a 30% return on invested capital in tokens as a service.”

Morgan Stanley economics estimates roughly a quarter of U.S. GDP growth this year is attributable to AI buildout alone.

“Our economics team has about a quarter of GDP growth this year coming from just like the buildout of the current buildout of AI.”

Morgan Stanley's Michael Wilson warns semiconductor momentum is fading as investors rotate toward hyperscaler laggards, a signal that the AI chip trade may be peaking.

“Morgan Stanley analyst Michael Wilson warned that momentum is fading in semiconductors as investors shift towards tech laggards including the hyperscalers.”