Big Tech's $650 billion AI spending wave and a string of analyst upgrades have pushed Nvidia to its biggest weekly gain in over a year. When your customers collectively announce plans to spend $650 billion on AI infrastructure, your stock tends to notice. AdvertisementWhy everyone is suddenly spending so muchAmazon anchored the spending wave with plans for approximately $200 billion in capital investment. The broader tally across major technology firms reached roughly $650 billion in planned AI-related spending for 2026. Microsoft added more confirmation in July 2026, reporting quarterly capital expenditure of $41 billion, a figure that exceeded analyst expectations.