Amazon, Microsoft, Alphabet boost AI spending to $725 billion, signaling massive chip demand

Big tech spends more than $1 trillion on AI infrastructure — additional $745 billion expected to be added to…

Big Four spent $1.1T on AI capex since 2023, expecting $745B more in 2026, while hiding $1.65T in commitments. Google Cloud lost money for the first time in 20 years: capex ROI unproven and driving up enterprise infrastructure and cloud costs.