Big Tech’s relentless pursuit of artificial intelligence (AI) has unleashed a capital expenditure (capex) boom, with companies like Microsoft (NASDAQ:MSFT), Amazon (NASDAQ:AMZN), and Meta Platforms (NASDAQ:META) committing to spend hundreds of billions to build AI infrastructure.
According to recent analyses, these giants, alongside others like Google and Oracle (NASDAQ:ORCL), are projected to invest approximately $380 billion over the next year, primarily on data centers and AI chips to power cloud platforms and generative AI models.
Much of this investment will flow to chipmakers like Nvidia (NASDAQ:NVDA), the dominant player in AI-grade graphics processing units (GPUs). However, while Nvidia appears to be the big winner from the AI spending floodgates being opened, the following three stocks will be hidden winners from the spending spree because they are just as critical to Big Tech’s AI ambitions, as they will literally be powering their businesses.
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