Major concerns about the AI bubble are surfacing as companies like Anthropic and OpenAI experience rapid revenue growth but struggle to turn a profit.
Anthropic’s revenue is increasing faster than notable historical benchmarks. In just two months, their annual run rate skyrocketed from $14 billion to $30 billion.
The percentage of American businesses using paid AI tools has jumped from about 25% to over 50% since early 2025. OpenAI reported a nearly 20% increase in its annualized revenue from December to February.
Google, Microsoft, and Amazon have also seen substantial cloud revenue growth—48%, 39%, and 24%, respectively—largely due to AI firms utilizing their services. Investors have poured over $300 billion into chasing AI profitability.
Yet, doubts linger. Sam Altman remarked, “Are we in a phase where investors as a whole are overexcited about AI? My opinion is yes.” Azeem Azhar emphasized that such rapid revenue growth is “absolutely not normal.”
Anthropic anticipates achieving profitability by 2028, while OpenAI aims for 2030. Companies are investing heavily in chips and infrastructure to meet the growing demand for AI tools.
The sustainability of these current growth rates remains unclear. As one expert noted, “Market hype leads to more demand. More demand makes you think you need more supply.”