Asked 14 public companies who earns verified revenue putting AI into production. As of mid-2026, none clears 10% from disclosed AI-implementation work. The six-link chain is forming — protocols, plumbing, identity, monitoring, labor, verticals — and conviction shows in acquisitions and open standards. But the dollars sit in bookings and management metrics, not recognized revenue. Closest line: one consultancy's ~$1.1B/qtr 'Advanced AI' (~6% of revenue, management-labeled, not audited segment). Knowing where the money isn't is half the map.