Last month, Alphabet, Amazon, Microsoft and Meta signaled that spending on AI would not slow down, with the tech giants' combined spending now set to exceed $700 billion this year, up from about $600 billion previously.
Why it matters
Key development in AI from Economic Times Tech. Last month, Alphabet, Amazon, Microsoft and Meta signaled that spending on AI would not slow down, with the tech giants' combined spending now set to exceed $700 billion this year, up from about $600 billion previously
Tech companies tap debt markets to fund AI and cloud expansion . Last month, Alphabet, Amazon, Microsoft and Meta signaled that spending on AI would not slow down, with the tech giants' combined spending now set to exceed $700 billion this year, up from about $600 billion previously
GM is laying off hundreds of IT workers to rehire individuals with specialized AI skills, focusing on areas like AI-native development, data engineering, and prompt engineering.
Read on TechCrunch →Alphabet and Amazon are tapping overseas debt markets, including yen and Swiss franc bond sales, to finance their substantial investments in AI infrastructure and technology amidst the escalating global race for AI dominance.
Read on Economic Times Tech →Meta has secured a multi-year sponsorship deal with the Cannes Film Festival, replacing TikTok, and will showcase its AI video technology, which director Steven Soderbergh is using for his new John Lennon documentary.
Read on Economic Times Tech →