Four Rivals Claim It Too

This week, one company's research tax credit hit $3.9 billion. Aki: from what? Bolt: $700 million two years before; its AI chips were labelled as research; Congress wrote the rules, the company says. Lord Ozen: behold, no one else dares! Aki: four rivals claim over a billion. Apple, Amazon, Alphabet and Microsoft each report more than $1 billion a year, and none flags it as a risk.

Meta's research tax credit went from $700 million in 2023 to $2 billion in 2024 and $3.9 billion in 2025, once it began labelling AI data-center chips differently for tax purposes, making it the biggest beneficiary of the credit among public companies; Apple, Amazon, Alphabet and Microsoft each claim more than $1 billion a year but none has flagged the credit as a risk or said whether it covers data centers, a USC study found some companies simply reclassify spending they would make anyway, and Meta says it uses incentives Congress created.

Starring

🎙️The TellerAkiBoltLord Ozen