Dan Ives on Big Tech’s AI Spending Spree

Aggressive AI spending plans by Amazon.com Inc., Microsoft Corp. and Alphabet Inc. provided fresh evidence that demand for chips and related equipment will remain strong, offering relief to a sector that’s been battered in recent days. Amazon boosted its forecast for full-year capital expenditures to $220 billion on Thursday, up from a previous estimate of $200 billion, with Chief Executive Officer Andy Jassy saying most of that spending will go toward artificial intelligence. The outlook was part of a rush of earnings reports delivered by so-called hyperscalers — the world’s largest cloud computing providers — and they showed there’s been no letup in ambitions for building AI infrastructure.  For more, we get reaction from Dan Ives, Partner at Yorkville and Ives. He speaks with Tom Keene and Paul Sweeney on Bloomberg Surveillance.See omnystudio.com/listener for privacy information.