Tech giants increase AI spending to record levels amid industry boom

Tech giants increase AI spending to record levels amid industry boom
——————————————–
Leading US tech companies are significantly raising their investments in artificial intelligence, aiming to capitalize on the AI boom that has driven stock markets to new heights, Anadolu Agency reported.

Meta, the parent company of Facebook and Instagram, said its capital expenditures for 2025 are projected to be between $70 billion and $72 billion, up from a previous estimate of $66 billion to $72 billion, according to the BBC.

Company CEO Mark Zuckerberg said AI is creating “big opportunities,” noting that the right approach is to “accelerate this.”

Google’s parent firm, Alphabet, also raised its 2025 capital expenditure forecast to between $91 billion and $93 billion, a nearly twofold increase from 2024.

Microsoft reported $34.9 billion in capital expenditures for the quarter ending September 30, up from $24 billion in the previous quarter.

Analysts say the sector’s AI investments are now a key pillar supporting US economic growth.