Tech giants are intensifying their investments in artificial intelligence, fueling an industry boom that has driven stock markets to unprecedented heights. Fresh earnings reports from Meta, Alphabet, and Microsoft underscore the immense sums being poured into AI infrastructure—from data centers to advanced chips—despite lingering doubts about the speed of returns.
Meta announced that its 2025 capital expenditures will range between $70 billion and $72 billion, slightly higher than its earlier forecast. The company also revealed plans for substantially larger spending growth in 2026 as it seeks to compete more aggressively with players like OpenAI.
During a call with analysts, CEO Mark Zuckerberg defended Meta’s aggressive investment strategy, emphasizing AI’s transformative potential in driving both new product development and enhancing its core advertising business. He described the firm’s infrastructure as operating in a “compute-starved” state and argued that accelerating spending was essential to unlocking future growth.
Alphabet, parent to Google and YouTube, also raised its annual capital spe
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