Silicon Valley’s biggest companies are already planning to pour $400 billion into artificial intelligence efforts this year. They all say it’s nowhere near enough. “We’ve been short [on computing power] now for many quarters. I thought we were going to catch up. We are not. Demand is increasing,” said Amy Hood, Microsoft’s chief financial officer. “When you see these kinds of demand signals and we know we’re behind, we do need to spend.”
Source: Big Tech Is Spending More Than Ever on AI and It’s Still Not Enough