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"The article discusses the significant investments being made by Big Tech companies in AI, with Microsoft, Alphabet, Amazon, and Meta Platforms planning to spend a collective $325 billion. The article notes that the spending plans of these companies will have a significant impact on the stock market, and that investors should pay attention to these plans to gauge the direction of the market. The article also mentions that the earnings growth of these companies has helped to mask an earnings downturn for the rest of the index, and that the spending plans of these companies serve as a concentration risk for the market."
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