US tech giants investing big to stay ahead

New York

AMERICA'S technology giants are drawing on their huge cash stockpiles to make big bets on investments and acquisitions that could prove to be visionary - or end up as boondoggles.

Companies such as Amazon, Facebook and Google have been on a spending spree in the past year, pouring money into an array of companies, programmes and technologies amid concerns that if they do not keep innovating they will be left in the dust.