Amazon Leaps Over Tesla as Second Most Active Stock Option Amid AI Optimism

Luzi Ann Santos13:19 ET

Tech giants are spending extravagantly, the AI arms race is heating up, and chip stocks are soaring across the board.

The competition among technology giants in AI hardware is intensifying. This week, amazon claimed it would build the world's largest AI computing cluster, followed closely by Meta announcing a $10 billion AI datacenter. There are also reports that xAI, under Elon Musk, is planning to expand its supercomputer project tenfold...

wallstreetcn20:17 ET

1 million GPUs! Musk plans to expand the Colossus AI supercomputer cluster tenfold, continuing the arms race in AI infrastructure.

The investment required to expand Colossus is estimated to reach hundreds of billions of dollars, while also incurring relatively high costs for construction, power supply, and cooling. However, xAI has raised approximately $11 billion from investors this year.

wallstreetcn20:10 ET

Grab Partners Amazon Web Services to Drive Growth and Efficiency Across Asean

The Edge Markets20:01 ET

Meta plans to invest $10 billion in building an AI datacenter in Louisiana.

Meta, the parent company of Facebook, announced on Wednesday plans to invest $10 billion in building an ai datacenter in Louisiana, USA. This will be the largest datacenter globally for the tech giant. The super-sized datacenter is planned to be constructed in Richland Parish, Louisiana, aiming to handle the massive amount of data required to support digital infrastructure, including ai workloads. The day before, Meta mentioned seeking advice from nuclear power developers to help achieve its ai and environmental goals, also stating a hope to achieve net-zero emissions by the 2030s.

Global market broadcast.19:30 ET

Bezos stated that Blue Origin will surpass amazon in scale and is not worried about the relationship between Musk and Trump.

usa billionaire Jeff Bezos stated that his space company blue origin will one day become a larger company than amazon. Bezos said at an event on Wednesday, "I think this will be the best business I've ever been a part of, but it will take some time." Amazon, founded by Bezos in 1994, currently has a market cap of about 2.3 trillion dollars. Blue origin, founded in 2000, has never disclosed its valuation. Bezos funds blue origin by selling his own stocks in amazon. Bezos admitted that blue origin "is not a very good business yet."

Global market report18:57 ET