[bombcar]

The number of capital-heavy businesses that are wildly profitable “if you ignore capital expenses” is too many to list.

Airlines, for example, which are so profitable they continually go bankrupt.

[CuriouslyC]

That's true, but if the frontier doesn't advance there's no depreciation or ongoing capital expenditure. If all the frontier labs agreed to stop making stronger AI and just try to sell what they've already trained today, their books would turn green in a hurry.