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Big Tech's "AI Money-Burning War": The current scale is underestimated, future depreciation is underestimated, and the earliest price war may break out in 2027.

Big Tech's "AI Money-Burning War": The current scale is underestimated, future depreciation is underestimated, and the earliest price war may break out in 2027.

``` U.S. tech giants are engaged in an unprecedented AI infrastructure arms race, with their capital expenditure intensity approaching the peak levels seen during the dot-com bubble. According to news from Trading Desk, new research by Bank of America and Morgan Stanley shows the market has severely underestimated the true
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