Mark Zuckerberg declared 2023 as the year of efficiency and revealed Meta's plan to invest over $30 billion in tech infrastructure in 2024. The amount was later raised to $37 billion with the aim of staying ahead in the AI race.
Tech giants like Apple, Amazon, Meta, Microsoft, and Alphabet have collectively increased capital expenditure by 63% in the previous quarter, indicating a significant focus on AI development and infrastructure investments.
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