Yes,
And it still doesn't make money. The infrastructure behind the output and processing is very expensive, server racks still need bandwidth to operate in. And Terry (site Admin) can testify as to those costs. Then most AI do not own their own server farms. (Huge expense) where they own their own software (constantly being upgraded by expensive programmers ($350k/yr each....team size is over 1,000 for each AI)
The cost for AI is enormous. The infrastructure behind AI is also being funded by investors and their stock price is directly affected by AI stocks (their sole customer) ....meaning it will not reflect the investment and is anything but a value play in this sector.
All AI and related stocks are not looking good at P/E ratios of 90+.
There is money to be made....but it's short term. Not long term. There WILL eventually be a consolidation (tank) that will create buying opportunities for a value play and end up being something akin to an Amazon or Walmart stock. Especially when it all shakes out. But not before.
Micron stock (makes memory chips including fast memory needed by AI and Cell phones) does OK but fluctuates heavily. And Memory Chips have more of a commodity price structure (coffee, OJ, or rough rice) than an emerging product structure. (High Initially but falling later....like DVD players once cost $900 ea but now $40 buys a nice one(blu-ray) ....IF you even bother to play DVDs instead of use the internet to watch movies)