Google, Amazon, Meta Boost AI Spending; Nvidia Demand Soars

The artificial intelligence sector is experiencing a significant surge in investment and application, leading to both transformative advancements and market concerns. Energy technology company SLB, for instance, launched its new AI tools, Tela and Discovery, on November 3 in Houston. These tools aim to automate processes, interpret well logs, predict drilling problems, and improve equipment performance for oilfield service companies. SLB's Digital & Integration president, Rakesh Jaggi, noted that the digital business is crucial for the company's success, with its digital sector revenue growing 11% in the third quarter and double-digit sales growth expected. Meanwhile, major tech players are pouring vast sums into AI infrastructure. Alphabet plans to spend $50 billion to $55 billion in 2024, Amazon increased its AWS forecast to $17 billion for AI services, and Meta Platforms boosted its spending to $35 billion to $40 billion for AI and metaverse development. This heavy investment, however, has sparked warnings from articles published on November 3, 2025, about a potential market bubble, drawing parallels to the dot-com crash. Companies like Nvidia, a key AI chip maker, and Nucor, which supplies data center materials, are seeing immense demand. While some, like Booking Holdings CEO Glenn Fogel, believe the current AI boom is fundamentally different due to its broad transformative potential, exemplified by Google's AlphaFold model for drug discovery, the rapid investment driven by the fear of missing out could lead to an oversupply of AI infrastructure. AI's impact is already visible across various industries. A Salesforce report revealed that AI-powered chatbots boosted US holiday online sales by nearly 4%, reaching $282 billion in 2024, with chatbot usage surging 42% year-over-year. Organizations are also adapting internally; KPMG will begin evaluating how its staff use AI tools, such as Microsoft Copilot, in performance reviews starting in 2026, emphasizing that all employees have a responsibility to leverage AI. UK executives are increasingly demanding clear proof of AI's return on investment, linking projects directly to strategic goals like cost reduction and productivity gains. OpenAI is also expanding significantly, with its Chief Global Affairs Officer, Chris Lehane, confirming plans for a major California expansion. The company, which restructured to include a for-profit entity overseen by a nonprofit, had over $1 billion in direct economic impact on California last year. However, the rise of AI also brings new threats. Deepfakes are becoming a serious concern for businesses, as demonstrated by a fake Pentagon explosion image in May 2023 that briefly impacted the stock market. A 2024 Deloitte poll found one in four executives reported deepfake attacks, with one UK company losing $25 million from a deepfake voice call. Even public figures like country star Reba McEntire have been targets of viral AI-generated hoaxes, highlighting the growing challenge of discerning truth online and the resulting

Key Takeaways

• SLB launched Tela AI and Discovery AI on November 3 in Houston to automate oilfield processes, interpret well logs, and predict drilling problems, with its digital sector revenue growing 11% in Q3.
• Big Tech companies are making massive AI infrastructure investments, with Alphabet planning $50-55 billion, Amazon's AWS forecasting $17 billion, and Meta Platforms boosting spending to $35-40 billion.
• Warnings from November 3, 2025, suggest current heavy AI spending, benefiting companies like Nvidia and Nucor, could create a market bubble similar to the dot-com crash.
• Salesforce reported that AI-powered chatbots increased US holiday online sales by nearly 4% to $282 billion in 2024, with chatbot usage up 42% year-over-year.
• KPMG will integrate AI tool usage, including Microsoft Copilot, into employee performance reviews starting in 2026, requiring all staff to leverage AI in their work.
• OpenAI plans a significant expansion in California, having generated over $1 billion in direct economic impact on the state last year after restructuring to include a for-profit entity.
• Businesses are increasingly focused on measuring AI's return on investment, linking AI projects directly to strategic goals like cost reduction and productivity.
• Deepfakes pose a growing threat to businesses, with one in four executives reporting attacks and a UK company losing $25 million from a deepfake voice call.
• The prevalence of AI-generated hoaxes, such as the fake Reba McEntire pregnancy image, highlights the increasing difficulty of verifying information online.
• Booking Holdings CEO Glenn Fogel believes the current AI boom differs from the dot-com bubble due to AI's broad transformative potential across society, citing Google's AlphaFold as an example.

SLB launches Tela AI for energy industry digital growth

SLB introduced Tela, a new artificial intelligence technology. Tela aims to automate processes and change how oilfield service companies work. SLB is focusing on digital sales and using AI to help the energy industry grow. This new tool will help unlock new opportunities in the sector.

SLB unveils Discovery AI tool for oilfield efficiency

Energy technology company SLB, formerly Schlumberger, launched a new AI tool called Discovery on Monday in Houston. This tool automates processes and workflows for oilfield service companies. Discovery helps oil and gas companies improve exploration and production by analyzing large amounts of data. It aims to speed up finding reserves, make drilling plans better, and lower costs. SLB is investing in digital technologies like AI to boost its digital sales and help the energy industry become more efficient.

SLB introduces Tela AI to boost energy operations

SLB, an energy technology company, launched its new AI technology called Tela on November 3 in Houston. Tela will be part of SLB's existing applications and platforms, allowing users to interact through a simple chat. Tela agents can work with people or on their own to make decisions, such as interpreting well logs or predicting drilling problems. Rakesh Jaggi, SLB's president of Digital & Integration, stated that the digital business is a key part of SLB's success and future growth. The digital sector's revenue grew 11% in the third quarter, and SLB expects double-digit sales growth for this segment.

SLB unveils Tela AI for energy industry efficiency

Energy technology company SLB launched a new AI tool called Tela on Monday, November 3, 2025, in Houston. Tela will automate tasks and workflows for energy companies. This technology will be built into SLB's products, allowing users to interact with it easily. Tela agents can work with people or independently to interpret well logs, predict drilling issues, and improve equipment performance. Rakesh Jaggi, SLB's Digital & Integration president, said Tela helps address the industry's challenges of a smaller workforce and complex technology. The digital sector has driven SLB's revenue growth, increasing 11% in the third quarter, and the company expects continued strong growth.

SLB introduces Tela AI to boost energy company sales

Energy technology company SLB launched a new AI tool called Tela on Monday. This tool aims to automate tasks and workflows for energy companies, helping them grow. Tela will be integrated into SLB's products, allowing users to interact through a simple chat. Tela agents can work alone or with humans to interpret well logs, predict drilling problems, and improve equipment. Rakesh Jaggi, SLB's Digital & Integration president, stated that Tela addresses the industry's need for a leaner workforce and handles complex technical issues. The digital sector significantly boosted SLB's revenue, growing 11% in the third quarter, and the company expects continued strong growth.

AI spending surge may lead to market bubble burst

An article from November 3, 2025, warns that heavy spending on AI infrastructure could create a market bubble similar to the dot-com crash. Wall Street often goes from being overly excited to very pessimistic about new investments. Companies like Nvidia, which makes AI chips, and Nucor, which provides materials for data centers, are seeing huge demand. However, this rapid investment, driven by the fear of missing out, might lead to too much AI infrastructure being built. This oversupply could cause many investors to lose money, much like what happened when the internet bubble burst. While AI will change the world, investors should be careful not to pay too much for these technologies.

AI investment boom could create a market bubble

This article, published on November 3, warns that the current high spending on AI infrastructure might create a market bubble. Wall Street tends to get overly excited about new technologies, and AI is currently experiencing this enthusiasm. Companies like Nvidia, a chip maker, and Nucor, which supplies data center materials, are seeing huge demand. However, the author points to the dot-com crash as a warning, where too much infrastructure was built, leading to many companies losing value. While AI will likely change the world, the fear of missing out is driving excessive investment. This could result in too much AI infrastructure and cause investors to lose money, even as it eventually makes AI technology more accessible.

Businesses must measure AI impact for real success

UK executives are now seeing AI investment as a must, with boards demanding clear proof of its benefits. Pete Smyth, CEO of Leading Resolutions, says businesses should measure AI's return on investment using agreed-upon business goals, not just small test projects. Companies that use AI effectively focus on improving operations and customer experience, linking AI projects directly to strategic goals. Examples include automating tasks, using predictive analytics for inventory, and improving customer service with language models, leading to better profits and faster decisions. Successful AI implementation requires engaging stakeholders, evaluating ideas for business value, and agreeing on clear metrics like cost reduction or productivity gains before starting any project. Leaders should focus on tying AI to business outcomes, building in risk controls, and fostering a data-driven AI culture to ensure measurable success.

OpenAI plans major expansion in California

OpenAI is planning a significant expansion in California, with an announcement expected soon. The company's Chief Global Affairs Officer, Chris Lehane, confirmed this in an interview. OpenAI recently restructured from a nonprofit to include a for-profit entity, allowing it to raise funds and operate more like a business, while the nonprofit side oversees decisions. California Attorney General Rob Bonta approved this change, and OpenAI committed to remaining in the state. Lehane stated that the company had over $1 billion in direct economic impact on California last year. OpenAI is becoming a public benefits corporation, aiming to build artificial general intelligence that benefits all humans, and has also discussed child safety with the Attorney General.

AI chatbots boost US holiday online sales by 4 percent

During the 2024 holiday season, AI-powered chatbots significantly improved online shopping for US consumers. A Salesforce report showed these tools made buying and returning products more efficient, leading to a nearly 4% increase in online sales, reaching $282 billion. This growth surpassed initial predictions and happened despite fewer discounts from retailers. Chatbot usage surged by 42% compared to the previous year, showing their popularity. Globally, AI-driven sales also rose from $199 billion to $229 billion. Chatbots help customers with questions, product choices, and returns, leading to happier shoppers and more sales. Retailers using AI also collect valuable data to improve marketing and inventory, making the retail environment more flexible.

KPMG to assess employee AI use in performance reviews

KPMG will start evaluating how its staff use AI tools as part of their yearly performance reviews, beginning in 2026. Niale Cleobury, KPMG's global AI workforce lead, stated that all employees have a responsibility to use AI in their work. The firm is already tracking AI engagement through platforms like Microsoft Copilot and plans to invest in more tracking tools. Samantha Gloede, KPMG's global head of risk services, clarified that this monitoring is not for punishment but to ensure staff use AI effectively to do their jobs. This move shows how much AI is becoming a part of consulting and professional services. Other firms like Accenture are also heavily investing in AI, with Accenture even reducing staff who cannot be retrained for AI roles.

Booking Holdings CEO sees AI boom different from dotcom

Glenn Fogel, CEO of Booking Holdings, believes the current AI boom is different from the dot-com bubble he experienced when joining Priceline in 2000. He notes that AI, especially generative AI, has the potential to transform nearly every part of society, far beyond what 90s startups offered. For example, Google's AlphaFold model can speed up drug discovery. In the travel industry, Booking Holdings is already using AI to cut customer service wait times and help human agents. Fogel, whose company owns brands like Booking.com and KAYAK, acknowledges that economic downturns will happen, but he remains confident in the long-term growth of travel.

Deepfakes pose growing threats to businesses

Deepfakes are becoming a major threat to businesses, as shown by a fake Pentagon explosion image in May 2023 that briefly affected the stock market. These fake images and videos are now common and can target companies to steal money or cause harm. A 2024 Deloitte poll found that one in four executives reported deepfake attacks, with one UK company losing $25 million from a deepfake voice call. Deepfakes create a "trust tax" by making it harder to verify digital communications, leading to higher costs for security measures like watermarks and biometric tools. This erosion of trust can slow down decisions, complicate deals, and make all business relationships more difficult.

Big Tech boosts AI spending, signaling market growth

Big Tech companies like Alphabet, Amazon, and Meta are significantly increasing their spending on artificial intelligence, signaling a strong and growing market. These companies have raised their capital expenditure forecasts, with Alphabet now planning to spend $50 billion to $55 billion in 2024 on AI infrastructure. Amazon increased its forecast to $17 billion for its cloud computing division, AWS, to support AI services. Meta Platforms also boosted its spending to $35 billion to $40 billion for AI and metaverse development. These massive investments show a long-term commitment to AI, which is expected to drive more innovation, new products, and greater efficiency across various industries.

Reba McEntire laughs off viral AI pregnancy hoax

Country star Reba McEntire laughed about a viral AI-generated image from early October that falsely showed her, at age 70, holding a pregnancy sonogram. She joked that it would have to be an "immaculate conception" and called the situation ridiculous. The fake image also included Dolly Parton in the background, who was also targeted by a disturbing AI deathbed hoax. McEntire noted that social media makes it hard to tell what is real, unlike in the past when printed news was trusted. She emphasized that people now need to investigate to find the truth online.

Sources

• SLB touts new AI technology for energy industry in focus on digital sales (SLB:NYSE)
• SLB launches new AI product as it focuses on digital sales growth
• SLB launches new AI product as it focuses on digital sales growth
• SLB launches new AI product as it focuses on digital sales growth
• SLB launches new AI product as it focuses on digital sales growth
• Could Overspending on AI Infrastructure Be the Weak Link That Bursts the Bubble?
• Could Overspending on AI Infrastructure Be the Weak Link That Bursts the Bubble?
• From ambition to accountability: Quantifying AI ROI in strategy
• Open AI plans to expand in California
• AI Chatbots Boost US Holiday Online Sales by 4% in 2024
• KPMG to include AI performance reviews
• Booking Holdings’s CEO weathered the dotcom bubble. He says the AI boom is different
• The business impact of deepfakes
• Big Tech's rising AI investments show market bubble 'still has a good ways to go'
• Reba McEntire laughs at AI fake pregnancy photos: 'Have to be immaculate conception'