Summary

Four tech megacorps intend to collectively fork out roughly $635 billion this year on capex, much of it for datacenters and AI infrastructure – more than the entire output of Israel's economy and well beyond all global cloud infrastructure services revenue generated last year. The tech titans are all trying to outdo each other by spending eye-watering amounts on capex, the majority of which will go on AI and cloud expansion, but the big four – AWS, Microsoft, Google and Meta – are investing at a different scale.

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