Did you know? Currently, the capital expenditure of tech giants has reached about 1.9% of GDP. How exaggerated is this number?

Looking at it in a historical context makes it clear. During the peak of nationwide broadband construction? It only accounted for 1.2% of GDP. And those major projects we learned about in textbooks—1949's rise of the electricity industry accounted for 0.6%, the Apollo moon landing program also 0.6%, the interstate highway system in the 1960s was similarly 0.6%, and even the Manhattan Project in the 1940s only accounted for 0.4%.

In other words, a year's worth of capital expenditure by current tech companies is almost more than the total scale of these largest projects in history combined. What’s behind this? An investment frenzy in the field of artificial intelligence. This level of enthusiasm has never been seen before in history. The market is betting on the future, and the stakes are unprecedented.