[charcircuit]

This ignores how much the stock has grown due to AI.

Also many of these companies like Amazon, Google, and Meta drive a lot of incremental value due to both AI powered content suggestion and AI powered ad suggestion. Personalized ads has driven a ton of revenue.

[abathologist]

Good point. We mustn't forget the magical money box: that's where the real value is delivered!

[charcircuit]

If you can spend $1 to raise the value of your company by $2 it makes sense to do regardless of if that $1 is directly earning a profit.