Alphabet raises a massive $85 billion for AI — ride the wave on AI hardware suppliers like Nvidia
Google's parent company, Alphabet, just increased its fundraising goal to a massive $85 billion to build out artificial intelligence. Meanwhile, Nvidia is already making tens of billions in profit from the AI boom, proving the hardware side of the industry is highly profitable.
Idea
Tech giants are in an arms race to build artificial intelligence, and Alphabet just upped its investment to a staggering $85 billion. This massive wave of spending will largely go toward buying specialized computer chips and data center equipment. Since Nvidia is already reporting nearly $20 billion in recent profits from this exact trend, their hardware sales have a proven track record of translating tech spending into real earnings. Buying the semiconductor companies that supply this infrastructure is a solid way to profit as this AI spending tsunami continues.