Revenue has gone up, but fewer publicly traded companies are making a profit than ever before [0].
I could never understand why so many people just talk about revenue. Revenue without profits is meaningless. There's the old logic of "get enough revenue and then figure out profits and you're highly profitable", but it's very clear that switching the "profit switch" is not so easy in practice.
Investors are still basically waiting for the fed to drop rates, which means that people have abandoned rationally thinking about businesses and are just holding until the free money starts pouring in again.
I honestly don't think the AI bubble is anything like the dotcom bubble. There's something much stranger happening here since the entire market is basically hallucinating and AI is just one manifestation of that.
0. https://finimize.com/content/beware-the-rise-of-unprofitable...