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Artificial intelligence spending continues to reshape corporate budgets at a pace few executives anticipated. Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOG) (GOOGL), and Meta Platforms (META) are committing hundreds of billions of dollars to AI infrastructure, while businesses across nearly every industry are racing to secure servers, networking equipment, storage, and high-bandwidth memory before supply tightens further.
That investment wave has fueled record demand for semiconductor companies, but money spent in one area often means money is unavailable elsewhere. IBM's (IBM) preliminary second-quarter results suggest investors may be seeing the first real evidence that AI's biggest winners are beginning to squeeze spending across the rest of enterprise technology.
