Amazon, Google, Microsoft, Meta and Oracle are pouring record capital into artificial‑intelligence infrastructure, data‑center expansion and related technologies. Amazon’s projected spend tops the list, followed closely by Google, while Microsoft, Meta and Oracle trail behind. Investors are uneasy about the size of the commitments, noting sharp stock declines for firms with the highest projected outlays. The clash between massive AI‑related capex and market comfort highlights a tension that could shape the industry’s future as companies race to secure compute resources. Read more →

OpenAI is reportedly in talks to raise up to $100 billion in a new funding round that could value the ChatGPT maker at as much as $830 billion, according to the Wall Street Journal. The company aims to secure the capital by the end of the first quarter of next year and may seek investments from sovereign wealth funds. The infusion would support OpenAI’s accelerating spend on inferencing and compute, while the firm faces heightened competition from rivals such as Anthropic and Google amid a broader cooling of investor sentiment toward AI spending. Read more →

Meta is rapidly increasing its AI-related operating and capital expenses, but investors remain uneasy as the company has yet to demonstrate clear revenue‑generating AI products. While Meta AI boasts a large user base and experiments like Vibes and smart glasses have launched, analysts say the spending lacks a concrete product anchor, causing the stock to slide and raising questions about the long‑term payoff of Meta's AI investments. Read more →