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...

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