Then you should invest heavily in their IPO, I suppose.
You'll do much better than those of us who believe there is no way their financials can ever work.
I came to my conclusion a different way, I ran different models locally and measured the amout of resources required for basic things. From that I extrapolated some napkin unit economics, and I couldn't find any way to build a profitable business from it.
I don't assume I'm the smartest guy in the room though, so for all of our sake, I hope you're right.
I'm not sure if that is relevant here, but I've often seen people dramatically overestimate inference costs.
If we look at eg. https://inferencex.semianalysis.com/run/kimi-k31-pro-on-b300, it suggests that SOTA models are likely served in the API with profit margins in the ballpark of 98%.