OAI and Anthropic already have a 90% gross margin in inference. Jensen mentioned yesterday that AI has passed its inflection point, which means this: because selling tokens is becoming less profitable, infrastructure development is booming. Taking OAI as an example, its revenue this year is 50 billion. Revenue, gross profit, and growth rate are all accelerating. Based on the budget, including the cost of training and preparation, the expenditure in 2030 will only be 100 billion. But this round of financing will raise 150 billion. Why can't capex be sustained?