Every company in the $1 trillion club is investing heavily in artificial intelligence (AI).

(NASDAQ: AAPL) touted several AI-powered features in its latest iOS update and new iPhone release. The company pours around $1 billion annually into developing new AI technologies.

Amazon (NASDAQ: AMZN) is the leading cloud computing platform, and it just unveiled its new Trainium 2 chip design to enable developers to train their large language models while using less computing power. It also announced a new partnership with Nvidia (NASDAQ: NVDA).

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Source Fool.com