19h agoEconomist Noah Smith argues tech giants' negative AI capex returns represent experimentation, not a dot-com bubbleFT data shows negative AI returns of up to 35%.SentimentSentimentPos43.8%Neg56.2%Users in the replies debate Big Tech AI capex showing negative ROI, with some optimistic that experiments and infrastructure will yield long-term payoffs like the dot-com era while others dismiss outputs as lacking real breakthroughs or部署.9 comments with sentiment. View comments.