Amazon set to join Google, Microsoft’s spending surge as AI race heats up

Amazon.com is expected to join Google and Microsoft on Thursday in reporting a surge in capital spending on artificial intelligence as Big Tech companies rush to capitalize on the booming technology.

The e-commerce giant’s capital investments – mostly for building cloud and generative AI infrastructure – is expected to have risen 43 per cent in the second quarter to $16.41 billion, according to LSEG data. That represents a roughly $1.5 billion increase from the previous three months.