AI summary
Big Tech’s massive, unyielding AI spending threatens to outpace actual returns, creating a risky bubble that only external forces can stop.
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Big Tech’s big AI buildout will not end until someone stops it
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After four of the biggest competitors in the AI race held quarterly earnings calls late last month, two things are clear: Big Tech is not done spending record amounts on the AI data center buildout, and the AI data center buildout is not any closer to yielding its promised returns. A third thing is also starting to become clear - Big Tech will not be slowing down, at least not on its own. Amazon, Microsoft, Alphabet, and Meta told investors they're planning to spend at least $720 billion on CapEx this year alone. Most of that will go toward AI infrastructure. That's on top of at least $1 trillion in spending commitments that have bee … Read the full story at The Verge.
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