Big Tech reported Q2 "other income" rose significantly to $160B+, driven by investments in AI companies, raising concerns of paper gains overstating the AI boom
THE SO WHAT
If $160B+ of Q2 ‘other income’ is coming from paper gains in OpenAI, Anthropic, SpaceX and peers, headline earnings are now partially an AI mark-to-myth story. When you’re budgeting against Big Tech P&Ls, separate operating cash strength from investment revaluations or you’ll misread how much real money is chasing your category.
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