Alphabet, Meta and Amazon poured $380 billion into AI — but not everyone is winning from the spend

Major tech giants — Alphabet, Meta, Microsoft and Amazon — have made it through earnings season, and they sent a unified message to Wall Street: Artificial intelligence investments are increasing, and it will only get bigger in the near future.

These four tech giants have lifted their guidance for capital expenditures and now collectively project that number to exceed $380 billion this year as they race to build out infrastructure for the “virtually limitless demand” for AI services.