"In this week's news, AI companies hit mind-boggling financial milestones such as a $5tn valuation, a $100bn quarter, and a string of deals worth nearly $600bn. The AI boom's incomprehensibly vast numbers make it hard to criticize Last week, the chipmaker Nvidia hit a valuation of $5tn. Just three months prior, it became the world's first $4tn company. Microsoft reached a $4tn valuation last week, as did Apple. On a smaller scale, Meta, Microsoft, Amazon and Alphabet all reported their quarterly earnings."
"All of the tech giants, except Apple, revised their capital expenditure figures upward, declaring to their investors that they would spend billions more on the real-world infrastructure that underpins artificial intelligence. The revisions added tens of billions to a total that's already in the hundreds of billions. Alphabet alone estimated its capital expenditure at between $91bn and $93bn for the upcoming year."
Major AI and cloud companies reached unprecedented financial heights, including Nvidia's $5tn valuation and multiple firms hitting $4tn valuations. Alphabet posted a $100bn quarter and Amazon showed strong cloud growth, while Meta faced a $16bn tax bill. Most tech giants raised capital expenditure plans, adding tens of billions to already-huge infrastructure budgets; Alphabet forecast $91bn–$93bn in capex for the coming year. OpenAI converted to a for-profit entity, contemplated a $1tn IPO, and pursued large partnerships and spending commitments with Nvidia and Microsoft, including a $100bn Nvidia commitment and a $250bn Azure spending agreement.
Read at www.theguardian.com
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