The comment wasn't about binary profitability.

It doesn’t help Google to create an AI-powered business which turns $1B in profit annually if it results in them losing a search/ads business which turns $5B in profit annually.

The CapEx spend for AI not only makes AI itself more expensive (and thus less profitable), it’s now driving everything else in technology to be more expensive (and thus less profitable).

AI is a profitability tax on the entire tech sector and it remains unclear if the profit AI will deliver is going to be worth that.

I would say they should slow down on build-out to balance supplier/labor availability with available cash flows, but I suspect all the Big Tech companies are worried about falling behind the other and being put in the position to need to rent out compute.

It’s not clear what your argument is.

It’s more or less certain that Anthropic is already profitable if you discount the losses due to becoming too valuable.

What you are saying here

> The CapEx spend for AI not only makes AI itself more expensive (and thus less profitable),

There’s nothing inherently unique about this. It’s just supply and demand - the only problem is that the ecosystem of raw materials can’t keep up with the demand. It will catch up soon and the prices will stabilise.

Your only problem seems to be this aspect only: that RAM production hasn’t increased according to demand.

No I don’t agree they should slow down. I think RAM and other things should rather speed up to react appropriately to the demand.

It’s like saying the iPhone is not profitable because too many people want it and its price is going up.