Big tech are investing Absolute fortunes in data centers. Almost all seem to be prepared to meet the colossal demand for computing capacity for AI tasks. And yet, there is a curious and surprising exception.
Money, money and more money. In recent days, several large technology have announced their investment plans by 2025. In all cases astronomical budgets for the construction of data centers for AI: Microsoft were announced: Microsoft He spoke of 80,000 million dollars, Google of 75,000Goal of 65,000 And at the end of the week Amazon exceeded all those figures and promised to invest 100,000 million dollars In this area. To get a slight idea of what that figure supposes, a comparison: GDP Bulgaria was of 102,407 million dollars in 2023 (that of Spain, 1.62 billion).
Apple. However, in Apple things are very different, and their capex planned for 2025 will remain almost flat compared to 2024 and will be 12,000 million dollars. It is a remarkable figure, of course, but is far from its competitors in the field of AI.
And it is the one that has the most money. It is also interesting to compare the investment that these companies will make regarding their Market capitalization. Amazon is the strongest bet here: its capex is 4.12% its current market capitalization, followed by Meta and Google. Microsoft is somewhat more cautious (2.63%), but it surprises again that Apple, which is the world’s first company for market capitalization, has a capex of only 0.35% of all its value.
Wall Street rules. The decisions of these companies seem to be very influenced by the behavior of stock markets. The presentation of financial results and short -term forecasts has caused a kind of contagious effect: if we do not invest a money in data centers, shareholders are going to punish us a lot, they seem to have said the Big Tech with those colossal figures.
The great beneficiary is Nvidia. Meanwhile, it is likely that the great beneficiary of these colossal investments is Nvidia, which will be the one that will receive a good part of that money if everything follows the current trend. There will undoubtedly other beneficiaries in this area, but the Capex de Nvidia is comparatively ridiculous, both with respect to these companies and Regarding its current market capitalization (3.18 billion dollars). It is estimated that in fiscal year 2025 it will be about 3,000 million dollars, a quarter of the Apple, for example. In 2024 his capex It was barely 1,000 million dollars.
Apple goes to another rhythm with AI. The firm of Cupertino seems clearly to have a very different strategy than that of its rivals in this segment. He has barely offered news since he presented Apple Intelligencewhose options are limited and whose deployment is being slow. The feeling, even internally, is that In Apple they are clear followers And that at the moment will not change.
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