> AI is adding value to customers who are paying for it,

That doesn't change the fact that "the AI boom's profits are currently being funded by investors"

> but the value is going mainly to the frontier labs and hyperscalers since they, and not applications, are doing the main burden.

It's pretty clear that "the AI boom's profits" refers precisely to the profits of these entities - which are being funded by investors. The customers aren't paying the full price, it's a subsidized affair, where the burden is doesn't matter in the slightest.