The AI industry is running on FOMO

For Big Tech, a penny invested successful AI is simply a penny earned… Maybe. After an indeterminate magnitude of time. Investors hope.

On net calls past week, Amazon, Google, Microsoft, and Meta reported much than $350 cardinal this twelvemonth connected superior expenditures, or longer-tail investments successful a company's future. All 4 told investors to expect the fig to skyrocket adjacent further adjacent year: Microsoft said "higher," Amazon an "increase," Google a "significant increase," and Meta "notably larger."

That astir apt translates to much than $400 cardinal full for the 4 companies adjacent year, according to Joe Fath, spouse and caput of maturation astatine Eclipse VC.

Read the afloat communicative astatine The Verge.