Goldman has an ‘AI hype vs reality AI warning’ for Microsoft, Google and Facebook

Goldman Sachs has raised concerns about the massive spending on artificial intelligence (AI) by the US tech giants, according to a report by Bloomberg. The report cites strategists at Goldman Sachs, who analyzed spending by “hyperscalers” like Amazon, Meta, Microsoft, and Alphabet. These companies have collectively spent a whopping $357 billion on capital expenditure (capex) and research and development (R&D) in the past year.