The largest tech companies are spending wildly on new data centers to support their #Artificial Intelligence initiatives—and plan to spend even more. Amazon, Microsoft, Google and Meta Platforms collectively reported more than $150 billion in capital expenditures through the first nine months of the year, up 50% from the same period a year earlier. All four companies have projected their capex to grow in the coming year. Meta, for example, forecast “significant acceleration” in its infrastructure spending in its most recent report to investors, on top of a projected 43% increase this year. Much of Amazon’s capex typically has gone to build warehouses and the like for its vast distribution network. But the company said in a recent securities filing that the increases are now “primarily driven by investments in technology infrastructure.” Now the companies just need to show that all these computers and software can help their customers make money. #Data is beautiful