Are we in an AI bubble? – What our analysis says (and why the answer is no)

In short Why it matters On 28 September, financial details from Anthropic’s IPO preparations surfaced in a prospectus seen by Reuters: just $4.6 billion in 2025 revenue, an operating loss of more than $8 billion, and a potential valuation above $2 trillion. The verdict by many: “AI bubble!” So are…

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