alt Hacker NewsMS, Google, and Meta are spending hundreds of billions on AI, however their stocks are growing by the same amount. This doesn't seem like a crazy spending when looking at this, and better than just buying stock back and doing exactly nothing like Apple is doing.
Apple can afford to take their time, people will keep buying phones no matter whose AI they run on them. Google on the other hand can see its search business evaporating within a few years.