After four of the biggest competitors in the AI race held quarterly earnings calls late last month, two things are clear: Big Tech is not done spending record amounts on the AI data center buildout, and the AI data center buildout is not any closer to yielding its promised returns.
A third thing is also starting to become clear — Big Tech will not be slowing down, at least not on its own.
Amazon, Microsoft, Alphabet, and Meta told investors they’re planning to spend at least $720 billion…
