$AppLovin(APP.US) To be honest about this company, all the talk about AI boosting performance by this much or that much is just a concept, it's not real. To put it bluntly, it's just a traffic arbitrage business. The reason for its good performance is that a lot of the traffic from publishers is supplemented by bot traffic. APL frequently audits and reduces this fake traffic. There's no such thing as a refund for the corresponding advertisers' ad spend. So in reality, the cost deducted from the publishers' share is essentially APL's profit. Including Mobvista, whose stock price has been so strong these past two years. It's all the same logic.$MOBVISTA(01860.HK) In theory, they can keep extracting as much profit as they want.

If publishers think running MAX yields high monetization returns, they'll keep trying to find ways to break through. Advertisers, thinking that APL's ad delivery performance is at least better than other platforms, will continue to buy.

Just my understanding as an industry insider.