---
title: "I don't understand people who are now saying that US AI data center investments are excessive and in"
description: "I don't understand people who are now saying that US AI data center investments are excessive and in a bubble.$Alphabet(GOOGL.US)$Microsoft(MSFT.US)$Amazon(AMZN.US) all mentioned in their latest earni"
type: "topic"
locale: "en"
url: "https://longbridge.com/en/topics/35973387.md"
published_at: "2025-11-04T11:35:37.000Z"
author: "[第一公民的交易员](https://longbridge.com/en/profiles/11714872)"
---

# I don't understand people who are now saying that US AI data center investments are excessive and in

I don't understand people who are now saying that US AI data center investments are excessive and in a bubble.

$Alphabet(GOOGL.US)$Microsoft(MSFT.US)$Amazon(AMZN.US) all mentioned in their latest earnings calls that there are hundreds of billions of dollars in AI cloud backlogs and they had to reject many orders, which clearly indicates a serious shortage in AI data center construction.

However, I do think there are risks in the capital expenditures of AI companies like Meta/OpenAI with unclear commercialization paths.

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---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.