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The Marked Chart Wire · Tech and AI
HotAI Spending
Amazon shares fell 7 percent and Intel plunged 25 percent in premarket trading. Investors are concerned about the scale of artificial intelligence spending by major technology companies.
Part of a series: AI Spending: the latest, in order
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HotAI Spending
NAND prices have risen 550 percent from 2023 lows due to AI data center demand. TechInsights estimates Apple will spend $25 billion on storage in 2026, up from $6 billion in 2025.
HotAI Spending
Microsoft lowered its FY2026 capital spending outlook to $170 billion from $175 billion due to GPU delivery delays. Alphabet kept its $195 billion to $205 billion target, while Meta raised its spending floor to $135 billion.
AI Spending
Shares of CoreWeave and other neocloud providers declined after Microsoft's capital expenditure figures came in below market expectations.
AI Spending
Microsoft reported $45.2 billion in infrastructure costs, falling short of the $50.7 billion forecast. CoreWeave and Nebius shares declined nearly 5 percent in after-hours trading.
AI Spending
Stijn Van Nieuwerburgh estimates AI spending will average 3.6 percent of US GDP annually from 2025 to 2032, exceeding the historic railroad expansion. He notes that while AI boosts growth, it also concentrates wealth and disrupts labor markets.
HotAI and chips
The AI firm plans to spend up to $567 billion on computing power and facilities. Caterpillar provides essential generators and construction machinery for these projects.
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