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Tech giants are set to spend $200 billion this year chasing AI

Companies are racing to secure the scarce high-end chips and build the sprawling data centers the technology demands, and facing extreme costs to do so.

Andy Jassy, Amazon’s chief executive, called AI a “really unusually large, maybe once-in-a-lifetime type of opportunity,” evidenced by his company’s projection for a record $75 billion in spending for 2024.
Andy Jassy, Amazon’s chief executive, called AI a “really unusually large, maybe once-in-a-lifetime type of opportunity,” evidenced by his company’s projection for a record $75 billion in spending for 2024.Read moreDavid Paul Morris / Bloomberg
    by Mark Bergen and Lynn Doan, Bloomberg
    Published