Can you have too much of a good thing? If the “good thing” in question is artificial-intelligence investment, then Big Tech and Wall Street are starting to disagree. And in the process, the underlying principles that have governed the AI trade thus far are eroding as well.
Alphabet
GOOGLGOOG, Amazon.com AMZN, Meta Platforms META and Microsoft MSFT — the “Big Four” hyperscalers spearheading the AI infrastructure boom — are planning to spend a collective $650 billion in 2026 to outfit data centers with chips and invest in their internal architecture. That’s a 60% increase from what was spent in 2025.
‘It’s existential’: How Big Tech found itself in a $650 billion spending spiral
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Can you have too much of a good thing? If the “good thing” in question is artificial-intelligence investment, then Big Tech and Wall Street are starting to disagree. And in the process, the underlying principles that have governed the AI trade thus far are eroding as well.
Alphabet
GOOGL GOOG, Amazon.com AMZN, Meta Platforms META and Microsoft MSFT — the “Big Four” hyperscalers spearheading the AI infrastructure boom — are planning to spend a collective $650 billion in 2026 to outfit data centers with chips and invest in their internal architecture. That’s a 60% increase from what was spent in 2025.
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