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While I agree with your general sentiment, in fairness, Powell didn't say "revenue", he said "earnings", which is near equivalent to profits in financial report
by rmah 11mo ago
While I agree with your general sentiment, in fairness, Powell didn't say "revenue", he said "earnings", which is near equivalent to profits in financial reporting lingo.
- wmf 11mo agoBut the AI companies do not have profits. Even Google/MS/Meta are probably subsidizing AI with the profits from their non-AI businesses.
- wslh 11mo agoI assume that in this context is basically about NVIDIA, and some other chip companies.
- dragonwriter 11mo agoBut NVidia's AI related profits are driven by the AI-related speculative spending in the uncertain hope of future profits by firms in the AI gold rush, they are just the leading seller of shovels.