Google, Meta and Microsoft spent almost $80bn over the last quarter on artificial intelligence infrastructure, but investors had markedly different reactions to their plans to increase this historic spending spree.
Alphabet shares rose almost 7 per cent in after-hours trading on Wednesday as the Google parent boosted its capital expenditure plans for 2025 by $8bn to $93bn, and delivered a record $100bn in quarterly revenue.
By contrast, Meta plunged almost 9 per cent — potentially wiping $160bn from its valuation when markets open on Thursday — as Mark Zuckerberg’s company signalled much higher AI spending, which could top $100bn next year.
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