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Big tech’s capital spending surge may start to cool, though unlikely for long
When the world’s largest tech companies report third-quarter results in a few weeks, how much they spend will be at least as important as how much they make.
The enormous, so-called “hyperscale” networks owned by Alphabet Inc.’s Google, Amazon.com, Microsoft and Facebook demand a staggering amount of capital expenditures. That spending is now an important revenue stream for a long list of other tech companies that supply key components such as chips, software and networking gear.