Ever since AI came into the light, things have been changing. Some are saying AI is a threat; others are saying maybe AI is just a bubble that might burst soon, and the DeepSeek founder is saying something else, and someone is saying something else, and so on.
And then the recent Anthropic IPO and its warning with the IPO is like saying, we want to change the world, but at what cost? Just think about this — a bunch of people in a room deciding who is going to live and who is going to die.
Currently, Anthropic is targeting a valuation of around $2 trillion for its IPO, while its latest confirmed private valuation was around $965 billion. And the numbers are even more interesting. Anthropic generated around $4.6 billion in revenue in 2025, but reported an operating loss of more than $8 billion and a net loss of around $42 billion. The $42 billion net loss was heavily affected by a large accounting charge, so it doesn’t mean the company literally spent $42 billion in cash.
At the same time, Anthropic’s IPO filing is warning investors that advanced AI could create catastrophic or even existential risks to humanity. The company has also disclosed enormous future commitments for computing, cloud infrastructure, and other resources.
And this is where things become interesting.
We are talking about companies with enormous valuations, enormous spending, and enormous expectations. OpenAI, for example, was valued at $852 billion in its March 2026 funding round, while reports now say it is seeking funding at around a $1.4 trillion valuation.
DeepSeek, on the other hand, is reportedly valued at around $52 billion, and its founder Liang Wenfeng has said the company is prioritising the development of AGI over maximising profit and is likely to keep its most advanced models open-source.
And then you have companies like xAI, which reported $3.2 billion in revenue but a $6.4 billion operating loss in 2025.
So when I look at all of this, I keep thinking about one simple question:
Are we actually building the technology that is going to change the world, or are we building a massive financial bubble around the idea that AI is going to change the world?
Because on one side, these companies are telling us that AI could transform everything.
And on the other side, the same companies are warning us that AI could potentially create risks that could be impossible to control.
And somewhere in between these two extremes, there are investors putting trillions of dollars on the future of AI.
Just think about that for a moment.
We are not only talking about technology anymore.
We are talking about money, power, jobs, infrastructure, human behaviour, and potentially the future of humanity itself.
And that’s what makes this whole AI story so interesting.
