Last year America’s biggest technology companies, including Amazon, Google and Microsoft, spent $450bn on infrastructure, much of it to power AI, but they plan to spend about 1.4tr in 2027, a capex boom that is fast becoming the largest investment surge in history, compared with previous economic booms such as Britain’s railway mania and America’s dotcom bubble, as per The Economist
Published in Dawn, The Business and Finance Weekly, August 10th, 2026