Big Tech companies have faced falling share prices after flagging more aggressive investment in AI infrastructure this year. Assessments said investors' concerns about overly aggressive spending were reflected in the declines.

Google parent Alphabet said on Feb. 4 it would raise capital spending this year to as much as $180 billion, about double the previous year, after reporting fourth-quarter results. A day later Amazon forecast its capital spending this year would reach $200 billion. The figures represent a doubling for Google and a 56 percent increase for Amazon.

Investors did not appear to welcome the plans. Shares of Google and Amazon fell by as much as nearly 10 percent after they disclosed their capital spending plans. Both companies posted results that beat expectations for the previous quarter, but that did not stop their shares from falling. Amazon Web Services' fourth-quarter revenue rose 24 percent from a year earlier.

Other companies besides Google and Amazon were also not free from worries about overinvestment. In this atmosphere, Big Tech companies' market capitalisation has fallen by more than $1 trillion over the past week, CNBC reported on Feb. 6. In addition to Google and Amazon, Microsoft, Nvidia, Oracle and Meta also saw their shares decline.

According to a Financial Times report, Big Tech companies together plan to pour $660 billion into AI this year, a figure larger than the GDP of countries such as the United Arab Emirates, Singapore and Israel.