Nvidia Shares Surge on Big Tech’s $650 Billion AI-Spending Plan

Shares of the chipmaker rose as much as 7.7%, the biggest intraday jump since April 9, adding more than $300 billion in market value. Amazon.com Inc. sparked the rebound after the technology giant said during an earnings call that it plans to spend $200 billion on data centers, chips and other equipment this year. All told, Amazon, along with Alphabet Inc., Meta Platforms Inc. and Microsoft Corp., are expected to shell out roughly $650 billion for AI tools in 2026, about 60% more than the prior year.