Investors glimpse pay-off for Big Tech’s mammoth spending on AI arms race
Earnings reports of major players show how artificial intelligence services are boosting revenues
Earnings reports of major players show how artificial intelligence services are boosting revenues

Earnings hint at growth trajectory despite increases in capital spending

Silicon Valley giants have transformed from asset-light cash machines to huge infrastructure investors

Executives face choice between cutting returns to shareholders, raiding reserves or tapping the markets

Trading in insurance-like products that protect against tech company defaults is booming

How much AI is the market willing to finance?

Corporate leaders are betting that automation will produce outsized returns