But seriously, it just stems from the fact some people want AI to go away. If you set your conclusion first, you can very easily derive any premise. AI must go away -> AI must be a bad business -> AI must be losing money.
It is possible to question the sustainability of the AI buildout and not have a dogmatic position on AI development.
There are still major unanswered questions here. For instance, all of the incremental data capacity build out is going to businesses that have totally unknown LT unit economics and that today are burning obscene amounts of cash.
The people who doubted the sustainability of dot com era bubbles were correct even though the tech was actually transformational. Personally I expect roughly the same outcome.
Before the AI bubble that will burst any time now, there was the AI winter that would magically arrive before the models got good enough to rival humans.
But seriously, it just stems from the fact some people want AI to go away. If you set your conclusion first, you can very easily derive any premise. AI must go away -> AI must be a bad business -> AI must be losing money.