"Last week’s tech earnings saw outlet after outlet claim that Amazon, Google, and Microsoft’s AI bets were “paying off” ...

"Last week’s tech earnings saw outlet after outlet claim that Amazon, Google, and Microsoft’s AI bets were “paying off” as their respective cloud segments reported record revenue growth, casually ignoring that none of them have broken out their AI revenues (...)To be clear, all three of these companies’ cloud platforms have many other customers paying for many other things other than generative AI services or AI GPUs, and they’ve all engaged in a combination of multiple outright price increases and changing their core subscriptions to force AI features on them as a means of boosting revenues and conning the street into believing that “AI is paying off” every time they non-consensually thrust it on their customers, framing higher prices as “better value” in a way that fucks the user to appease Wall Street. Yet the biggest con of all is that a vast majority of this revenue growth comes from the compute spend of Anthropic and OpenAI, both of whom account for the vast majority of AI revenu...