Big Tech earnings season and the capex spiral

Google CEO Sundar PichaiMichael M. Santiago/Getty Images/ReutersA version of this story originally appeared in the BI Tech Memo newsletter.Sign up for the weekly BI Tech Memo newsletter here.Big Tech earnings season starts next week with Google, but the most important number won't be profit or revenue. It will be how much these companies say they'll spend on AI data centers.Google, Amazon, Microsoft, and Meta have already laid out plans to spend more than $700 billion this year. Investors know t