Big Tech to Spend $650 Billion This Year as AI Race Intensifies

Watch Scarlet and Paul LIVE every day on YouTube: http://bit.ly/3vTiACF.Market news and in-depth company research.Bloomberg Intelligence hosted by Paul Sweeney, Scarlet Fu, and John Tucker-Mandeep Singh, Global Tech Research Head at Bloomberg Intelligence, discusses big tech. Four of the biggest US technology companies have forecast capital expenditures that will reach about $650 billion in 2026 for new data centers and gear.-Poonam Goyal, Senior U.S. E-Commerce and Retail Analyst at Bloomberg Intelligence, discusses Under Armour and Amazon earnings. Under Armour boosted its adjusted earnings per share guidance for the full year; the guidance beat the average analyst estimate. Amazon.com Inc. shares dropped after the company announced plans to spend $200 billion this year on data centers, chips and other equipment, worrying investors that its colossal bet on artificial intelligence may not pay off in the long run.-Ken Shea, Bloomberg Intelligence Senior Consumer Products Analyst, on Phillip Morris earnings. Philip Morris International  reported higher profit in the fourth quarter, helped by strong sales of smoke-free products such as Zyn nicotine pouches. -Katherine Doherty, Bloomberg News Finance Reporter, discusses JPMorgan Chase., Goldman Sachs Group, and Bank of America  boosting their bonus pools for bankers and traders by at least 10%.See omnystudio.com/listener for privacy information.