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Yes but the sunk cost is also driving that - the investment has to show growth in cashflows, to the extent it is beating the hurdle rate to add value.

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Ahh, Microsoft's AI capital investment sunk cost fallacy, certainly, I agree with that. The stock will be punished when the investment does not show cashflow returns for sure.

MSFT: Microsoft CEO Offloads $75 Million in Stock Amid AI Boom - https://finance.yahoo.com/news/msft-microsoft-ceo-offloads-7... - September 5th, 2025

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