“The market is in such a bubble.”
Yet here are the 2027 earnings multiples for some of the largest companies in the world:
• $ORCL ~26x
• $AMZN ~25x
• $GOOGL ~25x
• $MSFT ~22x
• $NOW ~22x
• $AVGO ~20x
• $TSM ~19x
• $DELL ~19x
• $NVDA ~16x
• $META ~16x
• $CRM ~12x
• $SNDK ~9x
• $MU ~8x
President Trump said the administration may consider taking equity stakes in U.S. AI companies.
He also said AI executives could come to the White House as soon as next week.
$GOOGL and Anthropic are now paying $SPCX SpaceX a combined $2.17B per month for AI compute, implying a revenue run rate of roughly $26B annually.
It's another reminder that companies enabling AI capacity may capture just as much value as the labs building the models.