Tech's splurge on AI chips has companies in 'arms race' that's forcing more spending
Publishing timestamp: 2024-07-25 12:00:01
Summary
Executives at Meta and Google acknowledge overspending on AI infrastructure, but believe risks of spending too little are greater. Companies like Nvidia, Microsoft, Amazon, Oracle, and Tesla are heavily investing in AI. Concerns about massive stockpiling and competitive escalation in AI investments are rising among investors. Tesla is focusing on developing its own supercomputer due to high demand and prices of Nvidia chips.
Sentiment: MIXED
Tickers: GOOGL, META, NVDA, TSLA, AMZN, ORCL, MSFT,
Keywords: mobile, microsoft corp, business, technology, tesla inc, elon musk, breaking news: technology, mark zuckerberg, sundar pichai, alphabet inc, amazon.com inc, meta platforms inc, business news, apple inc, oracle corp, alphabet class c, nvidia corp,
Source: https://www.cnbc.com/2024/07/25/techs-splurge-on-ai-chips-has-meta-alphabet-tesla-in-arms-race.html