BIT Capital AI ROI Research Memo: "Is it all worth it?"

Billions are flowing into generative AI – but is the race already paying off? Our new Research Spotlight looks beyond Wall Street's scepticism and shows why first returns are already becoming visible at OpenAI, Amazon, Meta, and ServiceNow. The central question: is AI ROI already a reality – or only just the beginning?

• ChatGPT continues to grow rapidly: over 250 million weekly users, more than 3 billion website visits, and expected OpenAI revenue of USD 3.7 billion in 2024.
• Amazon quantifies concrete efficiency gains: Amazon Q is said to have saved 4,500 developer years – with annual savings of around USD 260 million.
• Meta demonstrates perhaps the largest commercial AI lever: GenAI-powered ad optimisation contributed to increasing quarterly revenue by more than USD 10 billion since the Apple ATT shock.
• ServiceNow monetises AI directly: subscription revenue rose 23 percent in Q2 2024 to USD 2.5 billion; "Now Assist" became the fastest-growing product in the company's history.
• The investment thesis remains broader than individual use cases: GenAI is seen as a general-purpose technology – with a target market not only in software but potentially across the entire global labour market.

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Note: The full research memo is available in German only.