Meta (META), Microsoft (MSFT), and Google parent Alphabet (GOOG) are expecting a cumulative $228 billion in capital expenditures in 2025, driven by their investments in artificial intelligence infrastructure. That’s a 55% increase from the roughly $150 billion those companies reported spending in 2024.
Tech giants contend all this spending will pay off in the long run. Investors aren’t so sure. Uncertainty surrounding the timeline for the payoff — along with ongoing debates about…
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