[mg]

The earnings do not need to come via direct monetization.

Google search revenue for example was over $200B in 2025. This revenue will be tightly coupled to the quality of their AI models in the future.

[louiereederson]

That is fair but doesn't do much to push back against the risk to the independent model vendors, particularly in consumer. This has represented a huge portion of the AI capex so far. OAI alone represented 2GW of compute in 2025. The point is they are in a fragile position, and so are the economics of AI DC spending in aggregate.

With respect to Google, I'd also wonder about the economics of AI search vs traditional.

[goalieca]

Googles search revenue comes from ads which depend somewhat on the quality and speed of the search result. Yeah, a better LLM could do it but a better pagerank with NLP that actually works again could do it.

[mg]

Are you located in a country where Google does not yet show AI answers?

In most countries, AI answers are the central aspect of Google now. Not the ranked pages.