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The artificial intelligence (AI) boom isn’t just a passing trend. It’s becoming a defining force in the tech world, with major players ramping up investments to build the infrastructure needed to support it. Take Amazon (AMZN), for example. The e-commerce and tech powerhouse recently announced plans to pour a whopping $10 billion into new data centers in North Carolina as part of its broader push to scale up its AI capabilities.
In fact, this strategic move is part of a massive capital expenditure plan of up to $100 billion for the year, with a significant portion earmarked for AI-related projects. Like Microsoft (MSFT), Google (GOOGL), and OpenAI, Amazon is in a high-stakes race to expand its capacity for AI workloads, with CEO Andy Jassy describing generative AI as a “once-in-a-lifetime type of business opportunity.”
