OpenAI and Anthropic are losing enormous amounts of money despite generating billions in revenue.
OpenAI reportedly generated $20 billion in revenue in 2025, yet is projected to lose around $14 billion during the same year.
Internal forecasts estimate cumulative losses could reach $44 billion by 2028.
In April 2026, OpenAI’s CFO reportedly warned executives that the company could face difficulties financing future computing deals if revenue growth slows down.
Anthropic reached an estimated $4.3 billion annualized revenue run rate in April 2026, while total costs climbed to nearly $19 billion.
The company is effectively spending around $3 for every $1 it earns and is not expected to stop burning cash until at least 2027.
Now look at the scale of spending commitments these two companies have made.
Together, OpenAI and Anthropic have committed roughly $1.05 trillion in cloud spending to Microsoft, Oracle, Google, and Amazon. That represents an estimated 43% to 54% of each provider’s future revenue backlog.
• Microsoft: $627B total backlog — OpenAI and Anthropic account for 49% • Oracle: $553B total backlog — OpenAI alone accounts for 54% • Google: $467.6B total backlog — Anthropic accounts for 43% • Amazon: $464B total backlog — OpenAI and Anthropic account for 51%
In other words, a huge portion of the cloud industry’s future revenue is tied to two companies that are currently losing billions every quarter.
Meanwhile, Microsoft, Alphabet, Meta, and Amazon are collectively expected to spend around $725 billion in capex during 2026, largely focused on AI infrastructure.
Combined hyperscaler capex from 2025 through 2027 is projected to reach $1.15 trillion, more than double the amount spent between 2022 and 2024.
So what is the return on all of this spending?
McKinsey’s 2025 State of AI survey found that only a minority of companies reported AI meaningfully increasing revenue or reducing costs.
$BANANAS31 looking strong on the 1H chart after a clean breakout from the 0.0105 range. Momentum is still bullish with higher highs forming consistently.
$ZIG war vor ein paar Tagen buchstäblich auf Platz #500 und jetzt schon um Platz #355 herum, und das Lustige ist, dass es die meisten Leute noch nicht bemerkt haben.
All das ist passiert wegen vieler Dinge, die ihr nicht bemerkt.
Kein Coin läuft, wenn er nicht gut unterstützt wird und ein gutes Produkt hat, und $ZIG gehört meiner Meinung nach dazu.
Das ist immer noch eine frühe Alpha, um reinzuspringen.
500M Rückkauf.
ZIG 2.0.
TVL bewegt sich verrückt.
Binance Wallet zieht an.
X Engagement wächst jeden Tag.
Und so beginnen echte Bewegungen, bevor plötzlich alle so tun, als hätten sie es früh gesehen 💙
$DOGE waking up again… and meme season might start from here. $DOGE Price pushing slowly without panic candles. Buyers looking strong above 0.113 and volume increasing quietly This type of move usually sends hard when breakout confirms.