2024

Artificial Intelligence

Meta

Big Tech companies – including Microsoft, Amazon, Alphabet, and Meta – are dominating their way in the Artificial Intelligence (AI) space with their spending exceeding than ever. The combined expenditure of these tech giants on AI is premeditated to outpace the amount of $240 billion in 2024.&nbsp; 
Recent <a href="https://dataconomy.com/2024/11/18/big-tech-ai-spending-in-2024/" target="_blank" rel="noreferrer noopener nofollow">research</a> from Dataconomy reports that as the demand for AI-powered tools and infrastructure increases, every major institution is turning stones to stay ahead.&nbsp; 
The largest e-commerce brand, Amazon has one of the largest expenses which is likely to contribute $75 billion of capital this year. Social media company Meta is also expected to spend over $38 to $40 billion to level up their game in the AI domain. 
Microsoft is also working on significant developments with its spending of $20 billion on AI base in the last quarter. Not to mention, Alphabet has publicly endorsed AI citing that approximately 75% of its code is written by AI and the company is aiming to extract even more accountability with larger expense.&nbsp; 
The scale of these contributions is tough to avoid as in the first half of 2023, these tech giants compressed $74 billion into capital investment. Then in the second half, the number jumped to $109 billion.&nbsp; 
Similarly, the expenditure accounted for $104 billion in the first half of 2024 – which is a 47% massive advancement over the equal course of the past year. Now the total has hit $171 billion in Q3 and it could potentially hit the forecasted number of $240 billion at the end of this year.&nbsp; 
These achievements determine how AI contribution can support extensive advanced methods. Yet, the real conversion will come when big tech cracks AI’s full capability to convert the industries and reconsider its work.&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Read: <a href="https://www.cryptotimes.io/2024/11/27/openais-sora-text-to-video-tool-leaked-by-beta-testers/" target="_blank" data-type="link" data-id="https://www.cryptotimes.io/2024/11/27/openais-sora-text-to-video-tool-leaked-by-beta-testers/" rel="noreferrer noopener">OpenAI’s Sora Text-to-Video Tool Leaked by Beta Testers</a> 
</blockquote>

Big-tech Companies’ AI Expenditure to hit $240 billion in 2024

The Crypto Times

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