Amazon, Microsoft, Google and Meta are pouring three quarters of a trillion dollars into AI in a single year. This is part one of a look at where that money goes and who is expected to cover the bill.

Morgan Stanley projects Alphabet, Amazon, Meta, Microsoft, and Oracle will spend $1.1 trillion on AI capex by 2027, surpassing the US defense budget.

Amazon, Microsoft, Google and Meta are pouring three quarters of a trillion dollars into AI in a single year. This is part one of a look at where that money goes and who is…