Meta and Alphabet’s Google are planning a larger push into artificial intelligence infrastructure this year, with both companies set to pour tens of billions of dollars into data centers and related systems. The spending plans point to another strong year for suppliers that make the chips and hardware behind AI services.

The disclosure helped push shares of Nvidia and Broadcom higher as investors bet that demand for advanced AI processors will stay elevated. Analysts also raised their forecasts for AI chip sales, extending expectations for growth through 2027 as cloud operators and large tech firms expand capacity.

The latest investment wave underscores how quickly the buildout of AI computing power is spreading across the tech sector. Companies are racing to secure the hardware needed to train and run increasingly large models, and that competition is keeping pressure on supply chains for high-end chips, networking gear, and data center equipment.

For investors, the message was clear: the AI boom is still driving capital spending at a rapid pace, and the companies supplying the infrastructure are likely to remain a key beneficiary as the race to expand computing power continues.