A clear trend has emerged in the past few weeks, as one tech giant after another reported their earnings: Big Tech is spending big on artificial intelligence in 2025. Combined, Meta, Microsoft, Amazon and Alphabet,

Days after Chinese startup DeepSeek's breakthrough low-cost AI computing shook the U.S. technology industry, CEOs of Microsoft and Meta defended massive spending saying it was crucial to staying competitive in the new field.

Amazon, Microsoft, and Alphabet each saw sharp stock declines following their fourth-quarter earnings reports, which revealed steep increases in AI-related capital spending. Microsoft and Google’s mar