Tech giants are spending big on AI in rush to dominate the boom

Tech giants like Meta, Alphabet, and Microsoft are ramping up their spending on artificial intelligence (AI) to dominate the rapidly growing industry. Meta plans to increase its capital expenditures to $70-72 billion in 2025, while Alphabet raised its forecast for the year to $91-93 billion. Microsoft reported $34.9 billion in capital expenditures for the quarter, emphasizing investments in AI products like Azure. These significant investments in AI are driving stock performance and could impact GDP growth, but questions remain about the returns on these massive spending efforts.