Investment in AI has reached unprecedented levels. As Nate Rattner and Tom Dotan report in their article for the Wall Street Journal, tech giants and investors are spending hundreds of billions of US dollars on AI. In the last quarter alone, Amazon, Microsoft, Alphabet, and Meta collectively invested more than $50 billion in capital expenditures, mostly on AI hardware.
The AI boom is also evident in other areas. Venture capital investment in AI startups has reached $64.1 billion so far this year. The number of data centers is growing rapidly, as is the energy demand for AI applications. As a major supplier of AI chips, Nvidia is benefiting enormously from this development. At the same time, the demand for AI specialists is rising sharply, while job openings in the technology sector as a whole are declining slightly.