Big Tech's AI gold rush isn't slowing down— it's getting more expensive. Amazon, Google, Meta, and Microsoft all opened their wallets wider than ever this quarter, logging record-breaking capital expenditures on AI chips, servers, and data centers. Microsoft was the top spender at nearly $35 billion, narrowly beating Amazon. Meta CEO Mark Zuckerberg said the company could increase its long-term asset spending, or capital expenditure (capex), by as much as 24% next year. Each company said it