Shira Ovide, The Washington Post; The AI spending frenzy is so huge that it makes no sense
" In just the past year, the four richest companies developing AI — Microsoft, Google, Amazon and Meta — have spent roughly $360 billion combined for big-ticket projects, which included building AI data centers and stuffing them with computer chips and equipment, according to my analysis of financial disclosures.
(Amazon founder Jeff Bezos owns The Washington Post.)
That same amount of money could pay for about four years’ worth of the Supplemental Nutrition Assistance Program (SNAP), the federal government program that distributes more than $90 billion in yearly food assistance to 42 million Americans. SNAP benefits are in limbo for now during the government shutdown...
Eight of the world’s top 10 most valuable companies are AI-centric or AI-ish American corporate giants — Nvidia, Apple, Microsoft, Google, Amazon, Broadcom, Meta and Tesla. That’s according to tallies from S&P Global Market Intelligence based on the total price of the companies’ stock held by investors."
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