type
status
date
slug
summary
tags
category
icon
password
As highlighted, data is current at of Q1 2025. For figures beyond that, I’ve estimated using company guidance, earnings call tone, or my own guesses.
(For Amazon, I adjusted the metric: only gross profit from its e-commerce business counts.)
 

AI revenue as a percentage of total revenue:

  • AI penetration in IT services is rapid – but I feel it’s mostly repackaging old IT services. I have the same doubts about Datadog.
  • AI uptake in application software is slower.
notion image
 
 

AI revenue:

  • So far, the secondary market really seems to value AI at the infrastructure level (e.g., chips, cloud).
  • AI adoption in application software is still lagging—incremental gains there aren’t too impressive.
  • How should big companies price their AI business? Considering Cursor’s valuation is $10 billion, there doesn't seem to be much room for further valuation increases for the big players.
notion image