<p>➀ The dilemma facing Big Tech is the cost of building AI, with estimates ranging from tens of millions to tens of billions; </p><p>➁ Some investments in cheap, effective Chinese products have raised concerns about the wisdom of some investments; </p><p>➂ Microsoft is withdrawing from data center projects in various countries, and expectations for GenAI are declining due to high failure rates and dissatisfaction with current results; </p><p>➃ OpenAI is not yet profitable and expects positive cash flow only in 2029, despite spending $644 billion on AI programs and data centers.</p>