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BlackRock Says AI Is Still in Phase 1 Amid Big Tech Capex Surge

BlackRock logoBlackRock
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Amazon logoAmazon
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Microsoft logoMicrosoft
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Alphabet (Google) logoAlphabet (Google)
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BlackRock Global Chief Investment Strategist Wei Li says artificial intelligence remains in the first stage of a longer transformation as major cloud and AI builders accelerate spending. Amazon, Alphabet and Microsoft are projected to spend about $590 billion to $600 billion in capital expenditures this year, largely for data centers and AI infrastructure, while demand still exceeds capacity.

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