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I don't want to defend the AI companies specifically, but lots of stuff works like this. If you need infrastructure to provide a service and you have to pay for the infrastructure up-front and then make the money back later, you're going to have charts that look like these.

colonialism fans these days be like "colonialism wasn't very profitable. it was negatively profitable," ignoring that the reason for the 'negative' profits were that they socialized the costs and privatized the wealth, and also, so so so so very many wars over colonies against other colonizer powers

the reason to oppose AI isn't that it's unprofitable. it's that we should stop it, before it is intensely profitable for capital at the expense of everyone else.

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utter clown era right now as people insist "ah, but dajugg-209 meets the complexity benchmark and can be run on an m5 macbook pro with 64gb ram," even as they continue to increase the amount of money they hand to anthropic and openAI to rent closed-source model access instead,

filling up the web with spam has become incredibly cheap, but "quality codemaking" is incredibly expensive. it's the pinkertons and Ogletree Deakins of 'creative industry'

This seems like a good reply to some other comment! I agree that there are plenty of good arguments against AI but "it seems to be insufficiently profitable in 2026" is not one of them.