Most analysts assume it’s C, the standard cost of doing business. The reality is **B**. The industry is spending enough on chips to require $600 billion in annual revenue to break even. The actual generative AI market is producing roughly $100 billion. This is the largest "Field of Dreams" experiment in history. The "if you build it, they will come" strategy works for baseball fields. It rarely works when the field costs half a trillion dollars a year to rent.