[ncruces]

It's a wonder. But if capex and opex are insane, and go up with every generation, the magic fades quickly.

Like, GitHub Copilot may be amazing, but if it looses money for every added user, if power users loose the company 4 or 8 times what they already pay, then maybe it's not an efficient use of compute resources.

[code_biologist]

Yes, this. What made tech companies valued at higher revenue multiples than other industries is that new users could start using a product at near zero marginal cost once the tech was built. New revenue at zero marginal cost. AI is great but expensive to operate and the expense grows in direct proportion to usage. New users come in and you have to stand up a new data center full of H100s to serve it.