That is revenue. What is the net profit?
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If you are growing revenue at a high rate then taking profit is a misallocation of resources. That is short-term thinking. It is much better to reinvest in revenue growth.
You can take small profit now or much larger profit later. Insisting that companies need to be profitable even when growing revenue rapidly is failing the marshmallow test.
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The point is that the unit economics are way worse because inference is expensive. Cost of goods sold matters, even if you're reinvesting profits.
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Please don't ask those rational questions, revenue is all that maters.
Doesn't inference have very good profit margins* but all the losses come from training?
* For now, when they don't have to compete much against companies like DeepSeek who supplies inference at 1/10th of the cost
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While good to ask, that is less relevant so long as they can maintain runway.
They reported 559 million in Q2 of this year. OpenAI on the other hand, is nowhere near this.
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These AI companies will be able to jack prices way way up once companies and users are fully addicted to doing everything with their AI.
I suspect the answer is: in the future after Moore's law somehow inevitably does its thing.
That has worked in the past for tech infrastructure, so there is clearly a gamble that it does that again here.