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Tech Giants Increase Artificial Intelligence Spending to $725 Billion

Key Points: The biggest technology companies raised their estimates for total artificial intelligence spending to $725 billion this year. Meta increased its spending budget to a maximum of $145 billion, causing its stock to fall 6%. Alphabet plans to spend up to $190 billion and saw its stock jump 7% after reporting strong cloud growth. Technology leaders believe the biggest risk right now involves spending...

LinkedIn Expects New Agentic AI Recruiting Tools to Generate $450 Million

Key Points: LinkedIn predicts its new agentic artificial intelligence hiring products will hit $450 million in sales next year. Microsoft rarely shares exact revenue numbers for specific software tools on the professional networking platform. The company built two distinct artificial intelligence systems to help both massive corporations and small businesses find workers. New Chief Executive Officer Dan Shapero said his team spent nearly a year...

Alphabet Challenges Nvidia by Selling Custom AI Chips Directly to Customers

Key Points: Alphabet will sell its custom Tensor Processing Units directly to select companies for their own private data centers. The technology giant recently revealed two new artificial intelligence chips called the TPU 8t and the TPU 8i. Amazon also competes in the chip market and generates an estimated $50 billion in real value from its custom processors. Major startups like Anthropic and OpenAI signed...