Big Tech's multi-billion dollar AI bets are still on track as Mag 7 giants report earnings

The four Mag 7 giants reported quarterly results on Wednesday, showing that they are still on track to spend multi-billion on AI. Here is what it means for crypto. What to know : Microsoft, Alphabet, Meta, Amazon all reported Q1 earnings after the bell on Wednesday. The four companies are expected to spend a combined $650 billion on AI infrastructure in 2026, the largest capital spending commitment in corporate history. AI-linked bitcoin mining stocks IREN, TeraWulf and Cipher Digital fell slightly in after-hours trading following the prints.