Tech Companies Are Setting Themselves on Fire to Keep Up in the AI Race

Tech companies are making record amounts of money, posting major gains in the most recent quarter compared to the same period just a year ago. Like its fellow tech giants, SpaceX has ramped up AI spending considerably after merging with Musk’s AI startup xAI. In short, tech companies have a lot left to prove — and that’s putting it lightly. They’re willing to put their companies’ very existence on the line by investing steeply in AI, a bet that has never looked riskier. More on AI spending: Mark Zuckerberg’s Pivot to AI Is Blowing Up in His Face Spectacularly