But aren’t the AI companies always needing to train the next version and replace/upgrade the HW? If it were just a one time startup cost then maybe they could become profitable, but if they will always need to invest heavily in traing the next gen and replacing HW every 2 years, then that’s more of an ongoing expense.

Wow. Shit like that makes me think we all fucked up by not having licensing or certification for software engineers like we have with civil engineers. They’ve got a lot a lot of balls claiming they were “hacked” when every unit had the same easily guessable credentials.