Big Tech pours money into AI infrastructure while shareholder payouts fall to a 15-year low

The AI spending race is beginning to show up in a different number: shareholder returns. Five major US technology companies generated record cash flow, yet the share of that cash going back to shareholders fell to its lowest level in at least 15 years. The money is being redirected into AI chips, data centers and infrastructure. Investors are now questioning whether the returns will justify the spending. Friday’s technology-led selloff carried into Monday’s trading, with markets still weighing the cost of the AI buildout. The concern is no longer just how much these companies can spend. It is how long shareholders will wait for the spending to pay off.

https://www.apnews.com/article/048328e49e47ce7afe6c1fb9d9acf13d

https://www.axios.com/newsletters/axios-am-c36b525d-34d3-426e-8b48-156dc3db6173