BUSINESS

Tech giants escalate AI spending amid concerns

Google, Meta, Microsoft and Amazon signaled no letup in AI outlays, lifting data center spending to meet surging demand. Google, Microsoft and Amazon together spent $112 billion on capex in the past three months; the foursome topped $360 billion over 12 months. Concerns about a budding bubble grew, and the Bank of England flagged rising debt risks if AI underdelivers. Fed Chair Jerome Powell said today's investments differ from the dot com era, citing profitable business models. Amazon plans $125 billion this year; Meta raised its target to at least $70 billion, while its shares fell 11 percent.

Reviewed by JQJO team

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