
The AI infrastructure race is getting more expensive 😬 @amazon, @Google, @Microsoft and @Meta reportedly spent a combined $202 BILLION on capital expenditures in the third quarter, up 108% from a year earlier and 446% from three years ago. New market analysis says investors are increasingly focused on cash flow, financing capacity and the risk that AI infrastructure could become overbuilt. The question is shifting from who is spending to who can earn a return 👀 H/T @charliebilello