Each of the hyperscalers has put like 250B each in the last year for infra. That means that they need to be writing AI profits to the tune of 20B per year just to keep up with the cost of the cash they burned.

We are not there. But they better figure it out soon. The cash flows dried up, and everyone is taking debt to support the capex. Google for the first time in its public history is cash flow negative. Amazon too.