Capital expenditures on large tech projects are enormous. Major tech companies are betting on the AI revolution (and then on the AI uprising—just kidding).

https://preview.redd.it/g3c41x2vd8md1.jpg?width=859&format=pjpg&auto=webp&s=80a27008dc5ec78d7364ead4e3fa71076ac2762e

The capital expenditures of the Magnificent 7 reached approximately $44 billion in the second quarter of 2024, the highest on record.

This is about 25% more than the $35 billion recorded in the previous quarter and 47% more than in the second quarter of 2023.

A significant portion of these expenses was driven by investments in AI as the hype around AI intensified.

A large part of this capital went to Nvidia, NVDA, and other major chip manufacturers.

submitted by /u/FXgram_
[link] [comments]

Make a post in our subreddit XGramatikInsights, and your thoughts will appear here!

Share the Post: