I hope they are not investing in tokens. I say this as ex-JetBrainer. I want JetBrains to succeed but what it would in the IDE landscape?

Cost of services is up. I suspect that's where the token cost comes into play, but they didn't "invest" in tokens. They can't call that an investment anyway. The increase in cost of services relative to revenue impacts net income - we can see that in prior years - but that's not the whole story. Total assets on the balance sheet increased at the same time net income decreased. They spent money on something of value.

Could they label that as investing in such a report? Sounds misleading. Investing to me means paying for something you then own afterwards, paying for AI sounds like a normal expense.