Senator Bernie Sanders has a warning for technology companies on their ballooning AI expenditure. In the last few quarters, Silicon Valley’s biggest technology companies — Microsoft, Meta, Google, Amazon, SpaceX, Oracle and Nvidia — have increased their capital expenditure by billions. Wall Street has not taken this kindly, so much so that it has wiped out billions from their stock value. According to a report in Reuters, “More than $2 trillion in market value is set to be wiped from the tech-heavy Nasdaq 100 this month, as Big Tech earnings intensified investor scrutiny of whether the billions being poured \u200binto artificial intelligence can generate returns quickly enough.”Hitting at rising AI debt, Senator Bernie Sanders slammed technology companies for what he called their risky AI bets. In a post on X, formerly Twitter, he told these companies not to come to taxpayers if their bet fails to deliver.<\/p>\n","protected":false},"excerpt":{"rendered":"
Senator Bernie Sanders has a warning for technology companies on their ballooning AI expenditure. In the last few quarters, Silicon Valley’s biggest technology companies — Microsoft, Meta, Google, Amazon, SpaceX, Oracle and Nvidia — have increased their capital expenditure by billions. Wall Street has not taken this kindly, so much so that it has wiped out billions from their stock value. According to a report in Reuters, “More than $2 trillion in market value is set to be wiped from the tech-heavy Nasdaq 100 this month, as Big Tech earnings intensified investor scrutiny of whether the billions being poured \u200binto […]<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[87,4,11],"tags":[],"class_list":["post-1046411","post","type-post","status-publish","format-standard","hentry","category-it-2-the-times-of-india","category-newspapers","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1046411","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=1046411"}],"version-history":[{"count":1,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1046411\/revisions"}],"predecessor-version":[{"id":1046412,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1046411\/revisions\/1046412"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=1046411"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=1046411"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=1046411"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}