Members Only - FT Unhedged - Big tech's AI spending spree: Why markets are freaking out about Meta

Big tech companies are spending staggering amounts on the AI arms race, with forecasts for 11 companies hitting $620 billion next year. For a long time, markets were comfortable with this, as companies paid from their own cash reserves. But that's changing. Meta, the parent company of Facebook and Instagram, recently saw $200 billion wiped from its value after announcing it would spend $72 billion on AI this year and issue a new $30 billion bond. .Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.Support South Africa’s bastion of independent journalism, offering balanced insights on investments, business, and the political economy, by joining BizNews Premium. Register here.If you prefer WhatsApp for updates, sign up to the BizNews channel here..Watch here

Members Only - FT Unhedged - Big tech's AI spending spree: Why markets are freaking out about Meta

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