Tech giants to invest hundreds of billions in data centres and chips

Earnings reports from titans including Amazon, Alphabet, Meta and Microsoft have shown they plan to keep pouring hundreds of billions of US dollars into data centres and chips even as investors grow impatient for returns.

Monday saw Apple post forecast-topping sales and profits but it warned that increasing memory chip costs would hit its profit margins in the coming months.

Shares in AI chipmakers Nvidia and AMD both climbed, along with AI data centre operator CoreWeave.