Tech giants are getting even bigger

The global economy is reeling from a pandemic-induced recession, but tech’s largest companies — providing ever more essential online services — are wildly profitable and flush with billions of dollars.

So Amazon, Apple, Facebook, Google and Microsoft are aggressively placing new bets on a future in which they will be bigger and more powerful than ever.

Details: Facebook announced its largest investment in an outside business in April, a $5.7 billion stake in the Indian telecommunications company Reliance Jio. Last month, Facebook bought the search engine and database company Giphy for an estimated $400 million. And, it recently announced that it had invested in Gojek, a “super app” in Southeast Asia.

Analysis: The growth is only likely to add to the worries of lawmakers and regulators in Washington and Europe. European Union officials are preparing antitrust charges against Amazon, accusing the company of using its e-commerce dominance to box out smaller rivals, while Britain has begun an inquiry into Facebook’s purchase of Giphy.