Overview: The “Big 4” hyperscalers – Amazon, Microsoft, Google and Meta – have dramatically ramped up their capital expenditures, from around $230 billion in 2024 to a projected $320+ billion in 2025, highlighting their intensified focus on AI. Yet the critical question remains – How effectively they can capture and monetize the vast potential of the AI market? The answer to this question is also central to their efforts to attract investors.