Big Tech reported Q2 "other income" rose significantly to $160B+, driven by investments in AI companies, raising concerns of paper gains overstating the AI boom (Financial Times)

Big Tech companies reported a significant increase in Q2 "other income" to over $160 billion, largely driven by investments in AI companies like OpenAI, Anthropic, and SpaceX. This surge in income has raised concerns among analysts that these "paper gains" might be overstating the true extent of the AI boom and potentially muddling the tech sector's overall earnings metrics, as reported by the Financial Times.