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Tech giants are dropping $85 billion on AI — buy the companies supplying the hardware

Alphabet just increased its fundraising target to $85 billion specifically to pour into artificial intelligence, joining other tech giants in a massive spending spree.

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Google's parent company is raising a massive amount of money to build out AI, joining Microsoft, Amazon, and Meta in an unprecedented spending boom. All of these tech giants rely heavily on Nvidia's computer chips to make their AI work. If these companies are collectively committing hundreds of billions of dollars to this technology, the companies supplying the hardware stand to make massive profits. Buying into semiconductor makers is a way to invest in the 'picks and shovels' of this modern gold rush.

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NVDASMHH4#technology#AI#semiconductors

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