In its earnings report last week, Alphabet said it plans to spend $85 billion on capital expenditures in 2025, up from the$75 billion it was targeting earlier in the year. It's a theme that's resonating across technology, where internet giants are racing to build costly data centers to run big AI models and workloads while simultaneously cutting expenses elsewhere. "We are competing with other companies in the world," Pichai said at the meeting. "There will be companies which will become more efficient thr ...