Apple spends 5x as much on R&D as it spends on capex. But, that is only one approach to the AI build-out era.
Over the same stretch, capital expenditures — mostly payments for property, plants and equipment — totaled just $6.8 billion. That means Apple’s R&D spending ran roughly five times its capex, a ratio unlike anything else in Big Tech’s AI buildout.
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In fiscal 2025, Apple allocated $12.72 billion on capital expenditures likely tied to AI. That's far less than others.
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