AI investment is massive, but AI profits are not — and yet investors seem confident massive AI fundraising will one day translate into sizable AI profits. To break it down, Verge Deputy Editor Alex Heath guest hosts this episode of Decoder featuring Menlo Ventures partner Tim Tully and AirStreet Capital founder Nathan Benaich.

Links:

2024: The State of Generative AI in the Enterprise | Menlo Ventures
State of AI Report | Nathan Benaich
AI Index Report 2024 | Stanford HAL
How companies are spending on AI right now | Tech Brew
OpenAI Is growing fast and burning through piles of money | NYT
Amazon to invest another $4 billion in OpenAI rival Anthropic | The Verge
Agents are the future AI companies promise — and desperately need | The Verge
Anthropic’s latest AI update can use a computer on its own | The Verge
OpenAI reportedly plans to launch an AI agent early next year | The Verge
Is AI hitting a wall? | Command Line

Credits:

Decoder is a production of The Verge and part of the Vox Media Podcast Network.

Our producers are Kate Cox and Nick Statt. Our editor is Callie Wright. Our supervising producer is Liam James.

The Decoder music is by Breakmaster Cylinder.

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AI is a money pit — here’s why investors don’t mind

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