The richest companies in the history of the world are spending so much on the infrastructure backing AI that they're burning through billions in cash and threatening a recent AI-fueled stock surge as Wall Street wavers. The latest financial disclosures by four of the biggest hyperscalers, Amazon, Alphabet, Microsoft, and Meta, as well as Elon Musk's up-and-coming AI player, SpaceX, which includes xAI, revealed that the small group of tech heavyweights is set to invest as much as $828 billion on capital expenditures this year. That spending includes data centers, high-powered chips, and other infrastructure that fuels AI.
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