Read properly or don’t bother posting or admit to yourself that you don’t understand corporate finance+valuation and stop engaging in discussions around it.
To date, no firm has explicitly stated its gains from llm’s aside from ‘increasing proportion of LOC’.
If firms had incremental cash flows to show for it they would talk about it loudly and proudly. But they don’t.
The existing assets of meta, google et al pre-llm’s are taking them to new highs. The investments in llm’s to date are value destructive in terms of cash flows.
Read properly or don’t bother posting or admit to yourself that you don’t understand corporate finance+valuation and stop engaging in discussions around it.