Microsoft is one of the biggest spenders, followed closely by Google and AWS, Bloomberg Intelligence said. Its estimate of Microsoft’s capital spending on AI, at $62.4 billion for calendar 2025, is lower than Smith’s claim that the company will invest $80 billion in the fiscal year to June 30, 2025.

President Joe Biden this week issued one of his last executive orders, addressing the race to build domestic data centers and clean energy plants in order to retain America’s leadership in artificial intelligence.

President Joe Biden signed an executive order on Tuesday to provide federal support to address massive energy needs for fast-growing advanced artificial intelligence data centers, the White House said.