翻译尚未完成，当前显示原文。
Wall Street wants to know whether AI is a bubble. Most of the worry is about who's paying for it. The companies leading the build-out are spending faster than their businesses bring in cash. Combined free cash flow for Amazon (AMZN), Alphabet (GOOG, GOOGL), Meta (META), Microsoft (MSFT), and Oracle (ORCL) fell to about minus $31 billion in the third quarter, according to Goldman Sachs. That's down from positive $37 billion to $62 billion a quarter through 2025. All that spending is a bet that people will use AI. Vinod Khosla, the billionaire Sun Microsystems co-founder and early OpenAI (OPAI.PVT) backer, says usage is the number to watch, not the stock market's mood swings.
我们公开展示核心要点。创建免费账户后可继续阅读全文、保存、讨论，并结合市场和 OSINT 背景分析。