In the same week, the two AI giants headed in opposite directions in the capital markets: ahead of Anthropic’s IPO, one buyer was willing to offer only $1.1 trillion—nearly half the $2 trillion valuation expected a month earlier. OpenAI, meanwhile, raised $11 billion at a $1.25 trillion valuation, and its first funding round hasn’t even fully closed yet.
On one side, buyers are starting to do the math; on the other, money is still flowing in. The disagreement isn’t about whether AI is useful, but whether the pace of making money can catch up with the pace of spending it. Anthropic still has nearly $900 billion in computing commitments on its books, while OpenAI had originally planned to raise $30 billion in this round but has so far raised only $11 billion.
The market hasn’t stopped believing in AI—it’s starting to ask a more specific question: how many years will it take for these valuations to be backed by real money? Do you think AI companies are overvalued or undervalued right now?
#热点背后的利益 #AI
On one side, buyers are starting to do the math; on the other, money is still flowing in. The disagreement isn’t about whether AI is useful, but whether the pace of making money can catch up with the pace of spending it. Anthropic still has nearly $900 billion in computing commitments on its books, while OpenAI had originally planned to raise $30 billion in this round but has so far raised only $11 billion.
The market hasn’t stopped believing in AI—it’s starting to ask a more specific question: how many years will it take for these valuations to be backed by real money? Do you think AI companies are overvalued or undervalued right now?
#热点背后的利益 #AI