Big Tech’s OpenAI and Anthropic stakes are inflating reported earnings
Kr00ney · x · 2026-08-04
A Reuters-style analysis argues that Big Tech’s reported earnings are being flattered by investment gains tied to private AI stakes.
- Microsoft, Amazon and Alphabet booked sizeable paper gains from holdings in Anthropic, OpenAI and, in one case, SpaceX.
- Those gains do not reflect underlying business growth.
- The article says the S&P 500’s 48% reported earnings growth in the latest quarter would have been closer to 29% without such investments.
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