It's profitable for a large swath of hardware and datacenter adjacent companies. Look at AVGO, now trading at 1.5 trillion (which may or may not be overvalued,

It's profitable for a large swath of hardware and datacenter adjacent companies. Look at AVGO, now trading at 1.5 trillion (which may or may not be overvalued, but the ryzen evaluation does reflect significant windfalls from AI spending). Optical interconnect/photonics companies, actual server rack builders, you name it, the pick and shovels companies are having an absolute boom in real terms, not just valuations.