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There's plenty of evidence that this is true.

According to Ed Zitron, Anthropic spent more than it's total revenue in the first 9 months of 2025 on AWS alone: $2.66 billion on AWS compute on an estimated $2.55 billion in revenue. That's just AWS, not payroll, not other software or hardware spend. He's regularly reporting concrete numbers that look horrible for the industry while hyperscalers and foundation model companies continue to make general statements while refusing to get specific or release real revenue figures. If you only listen to what the CEOs are saying, then sure it sounds great.

Anthropic also said that AI would be writing 95% of code in 3 months or something, however many months ago that was.





> $2.66 billion on AWS compute on an estimated $2.55 billion in revenue.

Yes, but it's unclear how much of that is training costs vs operational costs. They are very different things.




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