Over the past few years, many corporate budgets have been reoriented toward artificial intelligence (AI) investments. Nowhere is this shift more evident than among the cloud hyperscalers — Microsoft, Alphabet, and Amazon — as well as other tech titans like Meta Platforms and Oracle.
In just this year alone, Meta committed $14.3 billion to Scale AI and launched a new research hub, Meta Superintelligence Labs (MSL). It also signed a six-year, $10 billion agreement with Google Cloud. Meanwhile, Microsoft just struck a $17.4 billion deal with Nebius, a rising neocloud specialist.
At the center of this unprecedented wave of AI infrastructure spending stands one clear beneficiary: Nvidia (NASDAQ: NVDA). Whether directly or indirectly, the graphics processing unit (GPU) powerhouse is capturing a significant chunk of the money being spent on AI infrastructure.