The expensive bet on AI is starting to crack after fresh financial modelling cited by the Financial Times suggests that most major US technology firms are still expected to generate negative returns on artificial intelligence investments between 2025 and 2030, even under highly favourable assumptions.
The analysis, produced by Panmure Liberum, indicates that Microsoft, Alphabet, Meta, and Oracle all remain in negative territory on implied AI return on investment, while only Amazon shows a positive outcome. The findings land as Silicon Valley continues to pour unprecedented sums into AI infrastructure, data centres, and computing systems in anticipation of future demand.
