Zuckerberg, Musk Vie for AI Primacy With $155 Billion Spree

Meta Platforms Inc. will double capital spending to as much as $135 billion this year, an all-in bet on artificial intelligence as the US tech giants battle it out for supremacy in the next wave of technological advancements.

Tesla Inc. will spend $20 billion this year on pursuits including AI, self-driving vehicles and robotics — almost double Wall Street estimates — and plow another $2 billion into Chief Executive Officer Elon Musk’s xAI startup. Musk also said Tesla needs to build its own semiconductor factory.