Google, Meta, Microsoft, and Amazon Accelerate AI Spending Spree

Four of the world's wealthiest technology companies are dramatically increasing their AI spending. Google, Meta, Microsoft, and Amazon are pouring billions more into building data centers, stating they cannot keep up with the intense demand for AI computing power. This spending spree, with capital expenditures from the four totaling over $360 billion in the last year, is sparking fears of a dangerous tech bubble. While the Federal Reserve chair distinguishes the situation from the dot-com boom because these companies are profitable, investors remain cautious. Following its announcement to raise spending to at least $70 billion, Meta's stock fell 11 percent. The companies, however, point to massive future sales contracts as justification.