How many billions Big Tech spent on AI data centers in 2024

Big Tech is spending billions on artificial intelligence as demand grows for computing power and more advanced capabilities.

Microsoft (MSFT), Meta (META), Google (GOOGL), and Amazon (AMZN) spent a combined $125 billion on investing in and running AI data centers between January and August 2024, according to a JPMorgan (JPM) report citing New Street Research. The research shows both total AI capital expenditures and total data center operating costs, which include “cash operating expenses, software, depreciation, and electricity.”

Of the four tech giants, Microsoft has invested the most in fixed AI assets, such as graphics processing units (GPUs) and other chips, and on maintaining its AI data centers, according to the research. The report also shows that Google and Amazon spent more on training their AI models than on inferencing — or running their AI models for customers.

Here’s how much Big Tech spent on AI data centers in 2024, according to the report.