No qualifying author-owned investment thesis was confirmed in this post.
Sector observation without a specific actionable trade or directional asset call.
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Early last year there was a little moment when MSFT signalled it might (might!) pull back from it's AI-related Capex spend. It lasted all of about 6 weeks before they came back to the table with a "I'll see you and raise you" number on how much they were gonna sink into infrastructure. But that's nothing compared to what we're now seeing.
* META: $115b - $135b (easy to see how given it keeps offering a billion dollars to anyone with good credentials from a previous AI startup to come join them)
* MSFT: on track for $150b (annualised)
* GOOG: $175b - $185b (double last year)
* AMZN: $200b (up from $200b)
Some handy context I went back and found too. Google's ENTIRE capex spend in 2020: $22b. Outlier low? Nope: 2021: $25b. It's hasn't doubled its spending. Or quadrupled it. No, it's increased it by a factor of about 8x.
Safe to say this AI boom / bubble is still in full swing right?