alt Hacker News>Hasn't AI been horrible for FAANG fundamentally?
No. Net income is up quite a bit and profit margins maintained at Microsoft, Amazon, Alphabet, and Amazon. Meta net income is flat, but they are maintaining profit margins.
>Hasn't AI been horrible for FAANG fundamentally?
No. Net income is up quite a bit and profit margins maintained at Microsoft, Amazon, Alphabet, and Amazon. Meta net income is flat, but they are maintaining profit margins.
Zitron's claim is that much of that boost in profit for microsoft and alphabet and amazon is from only a few customers, specifically openAI and anthropic, and that those companies are buying and promising to buy lots of resources with money from investments from those same companies, and that largely this is unsustainable unless openai and anthropic can find a profitable business model.