Big Tech’s AI spending is accelerating (again)

Four of the tech industry’s wealthiest companies made it clear this week that their spending on artificial intelligence was not about to slow down.

But the outlays from Google, Meta, Microsoft and Amazon — which all raised their spending by billions of dollars, saying they needed to meet demand for AI — are increasingly feeding concerns that the tech industry is heading toward a dangerous bubble.

AI remains an unproven and expensive technology that could take years to fully develop. How much companies will ultimately get back in return from AI…