Tech Giants’ $724 Billion AI Bill Sparks Investor Worry

Google parent Alphabet last week reported an 82% increase in cloud computing revenue. Investors, however, were more concerned with the company’s artificial intelligence spending, Bloomberg News reported Sunday (July 26), arguing this comes amid a shift for American tech giants, who had for years seen their stock prices climb amid steep AI capital expenditures. “People are really focused on capex, obsessed with it.