Big Tech Intensifies Its Bet on Artificial Intelligence The tech sector is experiencing a true race for supremacy in artificial intelligence (AI), led by the so-called hyperscalers: Meta, Amazon, Alphabet (Google), and Microsoft. These companies are driving unprecedented investments, with sophisticated financial strategies that allow them to take controlled risks while maintaining the strength of their balance sheets. In their most recent earnings reports, these companies revealed capital expenditure (CapEx) investment plans that will exceed $500 billion in 2026, according to official data and analyst estimates. This amount, which multiplies the levels of 2025, reflects the fierce competition to dominate the infrastructure necessary for generative AI and cloud services. The secret to their investment capacity lies in the use of advanced financial instruments, such as debt securitizations, special purpose vehicles (SPVs), and data center leasing agreements with external players outside the tech sector. Venture capital funds, real estate developers, and family offices are also participating in this ecosystem, diversifying funding sources and mitigating risks. Meta Platforms leads the charge, with an investment forecast of between $115 billion and $135 billion in 2026, representing an increase of up to 87% compared to 2025. The company, under the leadership of Mark Zuckerberg, is focusing on the development of superintelligence labs and the creation of internal AI clusters, supported by partnerships with Nvidia, Google Cloud, and other strategic allies. Meta's strong advertising business backs this ambitious plan. Amazon is expected to raise its CapEx to a range of $130 billion to $150 billion in 2026, after reaching $125 billion in 2025. The company is investing in both energy capacity for its data centers and the development of its own chips, seeking to reduce its dependence on external suppliers like Nvidia. Alphabet (Google) has not yet communicated exact figures, but its financial leadership has indicated that capital investment will significantly increase from the $91 billion-$93 billion range in 2025. Analysts expect it to exceed $100 billion in 2026, aligning with its main competitors. Microsoft, while not providing specific guidance for 2026, has maintained an investment pace of $35 billion-$40 billion per quarter, projecting an annualized CapEx of between $120 billion and $140 billion. The growth of Azure and collaboration with OpenAI require continuous expansion in infrastructure and acquisition of advanced chips. Other companies like Oracle and Tesla are also increasing their investments, albeit on a smaller scale, while Apple has opted to outsource AI solutions, integrating Gemini as the AI engine in its products. The demand for data centers, next-generation GPUs like Nvidia's Blackwell and Rubin, and custom chips like Google's TPUs is driving an unprecedented transformation in the industry. The race for AI is not only redefining the tech landscape but also setting new records for investment and financial collaboration. (Source: businessinsider.es)