LONDON, July 31. /TASS/. Capital spending by four leading technology companies – Amazon, Microsoft, Google, and Meta (designated as an extremist organization in Russia) – on artificial intelligence technologies has reached $1.1 trillion since the AI boom began in 2023, the Financial Times (FT) reported, citing the companies’ financial reports.

According to the newspaper, such spending demonstrates both the scale of their AI ambitions and the speed at which America's technology giants have transformed from low-capex companies into some of the world's biggest investors in physical infrastructure.

Collectively, the four companies plan to spend $745 bln this year, primarily on data centers, advanced chips, and the electricity needed to power them, the Financial Times reported.