Big Tech's AI Spending Expected to Exceed $700 Billion in 2026, Boosting Electric Utilities
Major tech companies including Amazon, Microsoft, Alphabet, and Meta are projected to spend over $700 billion on capital expenditures by 2026, primarily for data centers supporting AI. This surge is increasing demand for electricity, benefiting utilities like American Electric Power (AEP), which has significantly raised its contracted load from hyperscalers.
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Topics: AI infrastructure capital expenditures data centers electric utilities