Big Tech’s spending on the AI race could surpass $1 trillion in the next five years

• Big Tech is expected to spend $200 billion on assets like equipment in 2024, a Bernstein note said.
• At that rate, Big Tech’s spending on capex could surpass $1 trillion in four to five years. 
• The uptick in investment — mostly to support AI efforts — is a big jump from recent years. 

Big Tech is spending big on the AI arms race.