Mag 7 Tech Giants Accelerate AI Spending as Bitcoin Miners Shift Strategy

Major tech players—led by Microsoft, Alphabet, Meta and Amazon—are stepping up AI investment, with Bridgewater estimating up to $650 billion in AI spending across these firms (combined market value ~ $12 trillion). Microsoft reported strong fiscal Q3 results (revenue $82.9B; AI-driven revenue $37B, +123% YoY), while Alphabet’s Google Cloud rose 63% to $20B and Meta raised capex guidance to $125–$145B to support AI infrastructure. The spending push is prompting bitcoin miners to repurpose data-center capacity toward AI workloads, but miner-related stocks saw slight declines and bitcoin fell nearly 1% in 24 hours. Tech stock reactions were mixed—Alphabet gained while Microsoft, Meta and Amazon slipped after hours. Attention is pivoting to Nvidia’s May 20 earnings as a key near-term catalyst that could further influence AI-related sectors, tech equities and crypto miners.