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Big Tech companies are significantly increasing their investments in artificial intelligence, with capital expenditures rising by 50% to $100 billion in 2024. This surge is aimed at building the necessary infrastructure to support AI technologies, benefiting various sectors including chip makers and data center suppliers. The current market correction has made many AI stocks more attractive due to their decreased valuations.
Three notable AI stocks to consider are Amazon, Micron, and Vertiv Holdings. Amazon's cloud unit, AWS, is experiencing strong demand for AI tools, while Micron is capitalizing on robust AI demand for memory products. Vertiv is also well-positioned to benefit from the expanding data center footprint driven by AI implementations.
• Big Tech's AI investments increased by 50% to $100 billion in 2024.
• Amazon's AWS shows significant demand for AI training chips and software.
AI is central to the strategies of major tech firms as they invest heavily in its infrastructure and applications.
Companies like Amazon leverage cloud computing to provide AI tools and services to other businesses.
The growth of AI technologies is driving the expansion of data centers, which are crucial for AI deployment.
Amazon's AWS division is a key player in providing AI tools and infrastructure to businesses.
Micron's growth is driven by increasing demand for high-performance memory products in AI technologies.
Vertiv's products are essential for data centers, which are increasingly utilized for AI development and deployment.
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