The four big hyperscalers have ploughed more than $1tn into capital investments since their race to dominate AI began three and a half years ago, as America’s largest tech groups bet their future on the technology.
Combined capital spending by Google, Amazon, Microsoft and Meta from the beginning of the AI boom in 2023 to the end of June hit $1.1tn, according to earnings reports from the four companies in the past two weeks.
The massive expenditure is a mark of both the scale of their AI ambitions and the speed with which the US tech giants have turned from capital-light businesses into huge investors in physical infrastructure.
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