“OpenAI announced Wednesday that it will spend $750 billion on infrastructure through 2030, some 25% more than it estimated earlier this year.”
The estimate went up 25% in a few months. That is the tell. Nobody spending three-quarters of a trillion dollars knows what it actually costs, they just know the number has to keep going up to justify the last one. A company that loses money on every query is now the largest capital project on the planet. Someone eats this bill when the revenue never shows.