The "AI is dead because oil" guy has clearly never read an income statement

So someone posted that whole thing about how Iran war means oil goes up which means energy gets expensive which means AI is dead. And like sure each step on its own isn't crazy but the whole thing is held together with vibes. The part that got me was "opex balloons 3-4x on already razor thin margins." Razor thin?? MSFT cloud runs \~45% operating margin. NVDA is printing 60%+ net margins. In what world is that razor thin. You can be bearish on AI without just making numbers up. And where does 3-4x even come from. Energy is like 10-15% of total data center costs. If electricity doubled tomorrow that's a 10-15% opex bump, not 300%. The rest is hardware, real estate, cooling. This is stuff you can just google. Also most hyperscalers aren't buying power at spot like some guy mining crypto in his basement. They have multi-year contracts locked in. Microsoft signed a 20-year deal to restart Three Mile Island. Amazon bought a whole nuclear data center campus. Google's been on renewable PPAs since like 2010. Oil going up doesn't mean their electricity bill triples next quarter. For this whole thesis to work you basically need Iran war prolonged, oil to spike AND stay high, that somehow hitting contracted data center rates, crushing margins that are currently enormous, the treasury market dying at the same time, and then China invading Taiwan on top of it. Every single domino has to fall perfectly. And he wants this by January. Honestly if you wanna be bearish on AI there can be a real case, like whether these companies can actually monetize fast enough to justify the insane capex spend. but oil's not it. Trimmed some in March, still long big tech.