Three months ago, Wall Street came down hard on Big Tech for its reckless AI spending spree. But the response from Silicon Valley spent even more. This year alone, the biggest tech firms (you know, Amazon, Microsoft, Meta, and Alphabet) will collectively burn over $200 billion on AI. And it’s only ramping up. Companies are scrambling to grab scarce, high-end chips and build massive data centers to fuel this tech.
Three months ago, Wall Street came down hard on Big Tech for its reckless AI spending spree. But the response from Silicon Valley spent even more. This year alone, the biggest tech firms (you know, Amazon, Microsoft, Meta, and Alphabet) will collectively burn over $200 billion on AI. And it’s only ramping up. Companies are scrambling to grab scarce, high-end chips and build massive data centers to fuel this tech.