Bloomberg Intelligence has raised its forecast for the generative artificial intelligence (AI) market, citing growing demand for AI agents and expanding infrastructure investment.

Bloomberg Intelligence (BI) said the global generative AI market could reach US$2.3 trillion by 2032, accounting for 22% of total technology spending across hardware, software and services,  up from its 2025 estimate of US$1.8 trillion. The report estimates that spending on AI training could reach US$658 billion by 2032 BI noted that the increase is being driven by higher token consumption, wider adoption of coding and customer service agents and growing demand for AI inference workload