Meta (META), Microsoft (MSFT), Amazon (AMZN), and Google parent Alphabet (GOOG) are expecting to spend a cumulative $325 billion in capital expenditures and investments in 2025 driven by a continued commitment to building out artificial intelligence infrastructure. Taken together, this marks a 46% increase from the roughly $223 billion those companies reported spending in 2024. Tech giants contend all this spending will pay off in the long run. Investors haven't been so sure of late. Uncertainty surrounding the timeline for the payoff — along with ongoing debates about whether such high levels of spending are truly justified — has fueled…