Oh absolutely, you can only do this so long, and you can still see it if you look closely, but is seems that many investors forgot how to look closely?
Microsoft specifically had 13 billion capex on AI in January 2025, the last time they mentioned it separately. And like 75-100 billion revenue from cloud iirc, which was growing a lot because of AI financing shenanigans. So that could still hide the growing expenses at that point.
Oh absolutely, you can only do this so long, and you can still see it if you look closely, but is seems that many investors forgot how to look closely?
Microsoft specifically had 13 billion capex on AI in January 2025, the last time they mentioned it separately. And like 75-100 billion revenue from cloud iirc, which was growing a lot because of AI financing shenanigans. So that could still hide the growing expenses at that point.