Tech giants to collectively spend €184bn this year in AI push

The world's largest technology firms are committing to further capital expenditures on the development of artificial intelligence (AI) with of the four biggest internet and software companies set to spend well over €184bn this year.

Meta chief executive Mark Zuckerberg has pledged to ramp up investing in AI language models and other associated projects. 

Three months ago, Wall Street punished the world’s largest technology firms for spending enormous amounts to develop artificial intelligence, only to deliver results that failed to justify the costs. Silicon Valley’s response this quarter? Plans to invest even more.

The capital expenditures of the four largest internet and software companies — Amazon, Microsoft, Meta Platforms, and Alphabet — are set to total well over $200bn (€184bn) this year, a record sum for the profligate collective. Executives from each company warned investors this week that their splurge will continue next year, or even ramp up.