holy shit, looks like the AI doomers were (very) wrong. absolute MONSTER earnings with no bubble in sight


google, meta and amazon crushed:
> google, Meta and amazon not only beat expectations by 50-94%, they expanded profit margins *thanks to AI*.
> AI chips depreciation is a complete myth. profit margin increased dramatically despite the capex spend.
> amazon AWS and google cloud are PRINTING cash. their big $200 B infra bet on chips has paid off massively. demand is off the charts.
> Meta tripled their ai daily-users and are printing cash on ai-advertising (zero leverage btw all free-cash flow)
> google + meta alone will spend $250 B on ai infra this year... but from their operating cash-flow aka NOT leverage (no bubble)
> google search revenue grew aka ai is NOT cannibalizing search
> microsoft was the worst. barely beat expectations, co-pilot adoption sucks. too reliant on openai.
> surprise: google's waymo is at a $126 B valuation and might hit 1M weekly rides by end of year
biggest takeaway: the companies that are vertically integrated (owns the ai model, chips, distribution etc) are the biggest winners in AI.
$AMZN $GOOG $META
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