Leading tech companies are heavily investing in AI infrastructure, fueling demand for chips, energy, and capital. Key players like Nvidia, Microsoft, Apple, Alphabet, Amazon, and Meta are expanding their investments by acquiring land, building data centers, and sourcing energy. Together, these companies will spend nearly $400 billion on capital expenditures this year. This trend mirrors historical investment patterns seen in prior industrial ages and suggests a major stimulus in the private sector, surpassing previous peaks in telecom spending.
"In a sense, there is a massive private sector stimulus program underway in the U.S."
"Call it an 'age of infrastructure,' in which companies spend vast sums on actual stuff."
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