Big tech spends more than $1 trillion on AI infrastructure — an additional $745 billion expected to be added in 2026 alone

Amazon, Google, Meta, and Microsoft have spent about $1.1 trillion on AI infrastructure since 2023, with another $745 billion expected in 2026.

Their outlays on data centers, chips, and electricity are pushing up utility bills and triggering backlash over power-hungry data centers.

AI demand is tightening memory and storage chip supply, rippling through the semiconductor chain and benefiting key suppliers like Micron, Samsung, and SK hynix.

Analysts are also flagging large future payment commitments that do not show up as traditional debt, raising hidden-liability concerns.