For Big Tech, a penny invested in AI is a penny earned… Maybe. After an indeterminate amount of time. Investors hope.
On earnings calls last week, Amazon, Google, Microsoft, and Meta reported more than $350 billion this year on capital expenditures, or longer-tail investments in a company’s future. All four told investors to expect the number to skyrocket even further next year: Microsoft said “higher,” Amazon an “increase,” Google a “significant increase,” and Meta “notably…
