The question no longer seems to be who will lead the next technological revolution, but rather who can afford its enormous cost first.
In a frantic race to dominate the future of artificial intelligence, the world’s largest technology companies have begun searching for new sources of funding to keep pace with increasing spending on developing smart models and giant data centres, at a time when costs are escalating to unprecedented levels.
Meta and Google have announced new steps aimed at boosting revenue and providing the necessary liquidity to fund their ambitious artificial intelligence plans, in a clear indication of the huge investments required to compete in this rapidly growing sector.
In a move reflecting the growing need for funding, Alphabet, Google’s parent company, announced it was raising the value of its recently unveiled equity sale programme from $80 billion (Dh293 billion) to about $85 billion (Dh312 billion).
This process is viewed as one of the largest equity capital raises in the history of global companies, as the original version of the programme was already on track to become the largest offering of its kind, ever.
Analysts believe this move is part of a strategy aimed at providing additional financial resources to support the company’s investments in data centres, advanced chips, and the infrastructure needed to run advanced artificial intelligence models.
Direct source
In contrast, Meta has begun taking practical steps to turn artificial intelligence (AI) technologies into a direct source of income, after announcing the launch of an AI agent dedicated to businesses for the first time.
This smart assistant can interact with customers via WhatsApp, Messenger and Instagram, where it automatically answers inquiries and manages conversations.
The company also plans to expand its capabilities in the future to include more advanced tasks such as conducting market research, analysing customer trends, and extracting insights that help companies develop their products and services.
The smart agent will be part of the subscriptions allocated to companies within the “Meta One” packages, while the company will impose usage-based charges for large companies that rely on the WhatsApp Business platform.
Huge investments
These moves come at a time when giant technology companies continue to pour huge investments into artificial intelligence, amid a growing conviction that this technology will be the main driver of growth in the coming years.
Last April, Google and Meta raised their 2026 capital spending forecasts, with Google increasing its spending ceiling from $185 billion (Dh679 billion) to $190 billion (Dh697 billion), while Meta raised its estimates from $135 billion (Dh495 billion) to $145 billion (Dh532 billion).
The largest proportion of these investments goes towards building giant data centres, developing computing infrastructure, and securing huge quantities of specialised processors and chips needed to run advanced artificial intelligence models.
Implementation challenges
Despite these massive investments, technology companies are facing increasing challenges in implementing their plans at the required speed, as US media reports indicate that the construction of many new data centres is proceeding at a slower pace than expected, which may pose an obstacle to the rapid expansion of artificial intelligence services.
Observers emphasise that the next phase will not only be a race to develop smarter models, but also a race to secure funding and infrastructure capable of running these models on a global scale.
As giant companies race to invest in artificial intelligence, the question no longer seems to be who will lead the next technological revolution, but rather who can afford its enormous cost first.
