Investors Cheer an A.I. Spending Bonanza

Andrew here. Usually, investors hate when companies announce huge spending
plans. That’s why it has been so wild to see them cheer as Microsoft and Meta
announced mammoth new artificial intelligence investments.

The more they spend, the higher their stocks seem to go. Microsoft raised its
suggested annual outlay to $120 billion — up from an originally mind-bending
forecast of $80 billion. Such spending helps prop up much of the economy — the
semiconductor industry and all of its component parts, as well as the energy
industry, the real estate business and more. More below.

Read here

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