META - Big Tech Q1 Earnings: AI Capex Increases As AI-Related Gains Continue
2024-05-14 11:58:15 ET
Summary
- The tech giants are continuing to dedicate tens of billions each towards AI infrastructure, and overall were broadly optimistic over the opportunities that generative AI brings to growth.
- Big Tech will likely commit upwards of $200 billion, maybe even $210 billion, combined in capex this year, predominantly for AI infrastructure.
- Increased spending by Big Tech ultimately is flowing to multiple core components for infrastructure expansion and increased GPU capacity.
Recent Q1 earnings releases from Microsoft, Amazon, Alphabet and Meta reaffirmed that AI spending is continuing to increase through 2024 as companies seek AI-related revenue gains....
Big Tech Q1 Earnings: AI Capex Increases As AI-Related Gains Continue