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’s second-quarter “other income” surged past $160 billion, largely from equity stakes in AI-focused companies. Analysts warn the spike reflects paper gains that may exaggerate the sector’s actual AI growth, raising questions about the sustainability of the reported earnings boost.