Julie Chang

Netflix has a $72 billion agreement to acquire Warner's movie and TV studios and HBO Max streaming service.

It said in a statement that its offer remains superior but has granted a seven-day waiver for talks.

India's Adani Group plans to invest $100 billion to develop large-scale data centers powered with renewable energy by 2035.

It's the largest such commitment in the nation so far.

The Indian conglomerate said today that the new initiative will build on partnerships with Google and Microsoft.

and aim to expand its data center portfolio to 5 gigawatts.

Adani said its investment is expected to spur further spending across server manufacturing, electrical infrastructure, cloud platforms, and supporting industries over the next decade.

And Infosys has agreed to partner with Anthropic to develop and deliver AI services to businesses in complex, regulated industries.

The collaboration will start in telecommunications and expand to financial services, manufacturing, and software development.

Infosys said Anthropic's cloud models will be integrated to its AI offerings to help businesses automate workflows and speed up software delivery.

Welcome to Tech News Briefing.

It's Tuesday, February 17th.

I'm Julie Chang for The Wall Street Journal.

The AI boom has seen a surge in capital spending for things like new, gigantic data centers, and that rapid growth is making it harder to analyze major tech companies' earnings.

Then, a leading expert on the intersection of technology and work shares his perspective on how AI is reshaping the labor market.

But first, five major tech companies, Alphabet, Amazon, Meta, Microsoft, and Oracle, are expected to spend a combined total of $3 trillion on property and equipment in the next four years.

But the results won't just be new data centers.

We'll also see depreciation expenses soaring.

Yet, investors can't find those expenses listed on the income statements of big tech companies, nor is there any consistency in how to report these costs.

That's according to Jonathan Weil, who covers finance for the journal's Heard on the Street column.