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Microsoft plans to spend $3 billion over the next two years to expand its cloud and artificial-intelligence infrastructure in India, the latest in a string of investment pledges by U.S. tech giants amid booming AI computing needs. Microsoft Chief Executive Satya Nadella said at an event in Bengaluru, India, on Tuesday that the investment marks the company’s single largest expansion in the country to date. The company plans to grow the company’s Azure cloud business in India and set up new data centers...

Nvidia (NASDAQ: NVDA) has already been one of the major beneficiaries of this fast-evolving trend, driven by extensive adoption of its AI-optimized chips. In a recent interview with the BG2Pod podcast, Nadella talked about the initial AI boom created by OpenAI's launch of ChatGPT in 2022 and Microsoft's efforts to catch up in anticipation of the higher demand for AI services. Nadella was asked about Microsoft's constraints right now and said, "Power yes ... I am not chip supply constrained."...

BlackRock is the world's largest asset manager, with $11.5 trillion in client money under its supervision. Around $3.3 trillion of that is sitting in exchange-traded funds (ETFs) that are operated by the company's iShares subsidiary. One of them is the iShares U.S. Tech Independence Focused ETF (NYSEMKT: IETC), and more than one-third of its portfolio (by value) is invested in four AI leaders...

The companies will focus on developing AI agents for applications in homes, vehicles, hotels, and offices...