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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 (Financial Times)

Analysts say large paper windfalls on investments in OpenAI, Anthropic and SpaceX have muddied the tech sector's earnings metrics

We haven't written up this one. Techmeme has the full story — the link below goes straight to it.

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