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📢 文末扫码进裙，免费领取双语精读版 Beware of overhype and overbuild. The Economist AI arms race 16 May, 2024 | 703 words | ★★ ★ ★ ★ From the 19th-century railway mania to the telecoms boom at the dawn of the internet age, cautionary tales abound of over-investment in infrastructure fuelled by excitement over a new technology. With the rise of generative artificial intelligence (AI), history is repeating itself. In recent weeks four tech giants—Alphabet, Amazon, Meta and Microsoft—have pledged to spend close to a total of $200bn this year, mostly on data centres, chips and other gear for building, training and deploying generative-AI models. That is 45% more than last year’s blowout. Tech barons such as Meta’s Mark Zuckerberg admit that it may be years before this investment generates returns. It is an AI arms race. The tech firms are not only buying infrastructure. In the past few years they have joined a stampede to put venture capital (VC
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