The people who know Nvidia, Apple, Alphabet, Microsoft, Amazon, Meta Platforms, and Tesla best are telling a worrisome story.

Amazon.com has committed $200 billion in CapEx this year. Can the company generate returns fast enough to justify that spending?

Wall Street is starting to waver when it comes to the extraordinary amount of money being poured into AI projects, so Amazon has a pitch to try to quell concern: spending through it. The company announced Monday new plans to spend $12 billion building new data centers in northwestern Louisiana, according to CNBC.

U.S. stocks ended higher to, led by gains in Alphabet, Amazon and other Wall Street heavyweights after the Supreme Court struck down President Donald Trump’s global tariffs.

Amazon takes 5.3% stake in BETA Technologies, shares higher. Moderna drops after FDA refuses to file for mRNA-1010 influenza vaccine. Estée Lauder sues Walmart for selling counterfeits.

While this fourth-quarter purchase might seem like cause for celebration, investors would be wise to temper their expectations.