Oil crisis? What oil crisis? IT spending de-coupled from wider war shock

Gartner raised its 2026 global IT spending forecast to 13.5% growth ($6.31 trillion), up from 10.8% in February, despite the US/Israel/Iran war and resulting energy crisis. Analyst John-David Lovelock argues oil prices have minimal direct impact on IT budgets with no evidence of eroded confidence. The surge is driven by hyperscaler datacenter and AI-optimized server spending; consumer IT grows only 4.1% and enterprise IT outside these categories 7%.