By Kai Nicol-Schwarz
Publication Date: 2026-02-13 12:07:00
This report is from this week’s The Tech Download newsletter. Do you like what you see? You can log in Here.
The core
Earnings season has seen endless spending commitments from tech companies as they seek to expand data center capacity amid the AI boom.
Hyperscalers, including those like Amazon, Microsoft, Meta And alphabetannounced that capital spending on AI could reach $700 billion this year – more than the GDP of countries such as the United Arab Emirates, Singapore and Israel.
Investors were nervous. Last week, stocks tumbled as more than $1 trillion was wiped from the market caps of major technology companies amid concerns about the scale of AI spending and questions about returns.
Although there was some recovery this week, uncertainty over astronomical AI spending continues to make people nervous.
Amazon’s largest AI data center has seven completed buildings, with a total of 30 buildings planned on 1,200 acres in New Carlisle, Indiana, seen here on October 8, 2025.
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