New Delhi, Nov. 12 -- Major technology companies are expected to maintain their massive artificial intelligence (AI) investment plans despite a sharp post-election selloff in technology stocks, with Morgan Stanley retaining its forecast of USD 3.4 trillion in combined capital spending by major cloud companies in 2028 and 2029.

In a research article published on Wednesday, Morgan Stanley said the decline in AI-related stocks following the US midterm elections appeared to be an overreaction, adding that the broader investment cycle remained intact.

The firm said further market volatility could create opportunities across AI infrastructure, software and companies adopting the technology.

The election results are more likely to delay some ...