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Super Brief: The Paper Profit Machine — Super Brief
Published 4 weeks, 1 day ago
Description
The Paper Profit Machine. The most important number in Q1 earnings wasn't revenue growth. It was source of income. Tintin Capital tallied the figures: 58% of Google's net profit and 52% of Amazon's came from mark-to-market gains on stakes in Anthropic, CoreWeave, and other private AI companies. Nvidia carried 27% from simila