Record $44B capital expenditure by Magnificent 7 in Q2 2024, driven by AI growth.
Sectors & Industries
September 3, 2024
The Magnificent 7 companies significantly increased their capital expenditures in Q2 2024, reaching nearly $44 billion, a record high.
This marked a 25% rise from the previous quarter and a 47% increase compared to Q2 2023, primarily driven by the AI boom.
Major investments were funneled into Nvidia and other large chip makers.
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