Citigroup Lifts AI Market Forecast to $4.2T, Manages $360M Churchill Capital IPO
Citigroup raised its global AI market forecast to $4.2 trillion by 2030, including $1.9 trillion from enterprise AI, up from a prior $3.5 trillion estimate. The bank acted as sole book-running manager on Churchill Capital Corp XII's upsized $360 million IPO, $10 per unit with one‐tenth warrant exercisable at $11.50.
1. AI Market Forecast Revision
Citigroup updated its global artificial intelligence market projection to $4.2 trillion by 2030, a significant increase from the prior $3.5 trillion estimate. The bank now anticipates $1.9 trillion of that total to stem from enterprise AI applications, reflecting accelerated adoption of coding and automation tools by corporate clients.
2. Role in Churchill Capital IPO
Citigroup served as the sole book-running manager for Churchill Capital Corp XII's upsized $360 million initial public offering on Nasdaq. The offering was priced at $10.00 per unit, each comprising one Class A ordinary share and one-tenth warrant exercisable at $11.50, with closing expected on April 29, 2026.