4 ms·

Excluding all the capex from AI this last quarter has been one of their best.

• hansmayer 3mo ago
  > Excluding But you don´t get to to that. Would be like "Excluding my business costs, my company profits are the same as my revenue".
  • aoeusnth1 3mo ago
    The return on capital is also phenomenal. To be a bear, you have to assume that will crater.
  • delecti 3mo ago
    I think the point is more: as soon as they stop with the AI silliness they'll return to being a quite strong business.
  • mr_toad 3mo ago
    > But you don´t get to to that. You can, and for tax purposes you must. The bean counters hate that you can’t deduct capex.
  • jhpankow 3mo ago
    EBITDAI
  • overfeed 3mo ago
    The implication is if AI implodes, the AI-related expenses go away and what remains is a great business.