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The Marked Chart Wire · Tech and AI
HotAI Spending
Shares of CoreWeave and other neocloud providers declined after Microsoft's capital expenditure figures came in below market expectations.
Part of a series: AI spending debate shifts from doubt to market reaction
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HotAI 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.
Oracle
Oracle intends to secure FedRAMP Class D status for its AI database offerings across AWS, Azure, and Google Cloud. This would allow the company to serve regulated government clients, although the approval is still pending.
AI Infrastructure
Chase Lochmiller defended CoreWeave's financial position, stating that recent market declines are exaggerated. He noted that AI computing demand remains strong despite CoreWeave shares falling over 30 percent.
Microsoft
Microsoft is reportedly offering voluntary severance to about 25% of its workforce, excluding roles in critical infrastructure and emerging tech. The move follows a period where Microsoft increased staffing while peers like Oracle and Meta reduced headcount.
Microsoft AI
The tech giant released the latest version of its image generation tool as a preview to users.
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