Data technology update site Dataconomy reported that the largest tech companies have spent a jaw-dropping $240 billion in 2024. In contrast, Big Tech’s capital expenditures (capex) skyrocketed to nearly $74 billion in 2023, which reached approximately $109 billion by Q3. The expenditures reached $104 billion by the first half of 2024, representing a 47% year-over-year increase.