#capital-expenditures

#capital-expenditures

Data center construction spend in the US hit a record high of $40 billion a year in June, Bank of America Global Research said in a new report issued this month. The report cited data from the US Census Bureau and noted that the new spending level is a 28% increase from the previous year. Amazon, Microsoft, Google, and Meta are leading the charge with sweeping expansion plans that could total more than $1 trillion in capital expenditures over the next few years.

Meta reported a revenue increase of a couple billion dollars over Wall Street expectations, attributed to the deployment of AI in its ad system. CEO Mark Zuckerberg stated that this revenue increase would continue due to ongoing investments in superintelligent AI.

Google Cloud posted $13.6 billion in Q2 revenue, up 32% year-over-year, driven by growth in core and AI products at a rate significantly higher than Cloud's overall revenue growth.