So long as search revenue isn't correlated to AI revenue or threatened by AI revenue, Google at any point can bail on AI spending and suddenly the free cash flow machine is back on. Yeah they have a far larger debt load they now have to service but cash flow from search revenue is so strong it wouldn't be much of a blip.
So long as search revenue isn't correlated to AI revenue or threatened by AI revenue, Google at any point can bail on AI spending and suddenly the free cash flow machine is back on. Yeah they have a far larger debt load they now have to service but cash flow from search revenue is so strong it wouldn't be much of a blip.