It's well known that they are doing around $10B in ARR. GCP was losing money for many years but now it's a cash cow. AI is following the same trajectory. Not all companies will sustain it, but that doesn't mean it's a bubble, just that we will see consolidation.
OpenAI is now late in the game, way behind Claude and even Google Gemini (which used to be very bad, but now great, despite the few hallucinations), so they may collapse under their own weight if they cannot find new investors to feed the monster.
That's somehow true for enterprise. OpenAI are still leading the consumer side by a large margin over Claude. I'm talking about adoption, not the models. Once they can monetize beyond subscriptions (ads, shopping etc) they will be OK. Most likely once their ads business start growing, they will IPO.
Sam Altman said they have revenue, but didn't say how much, did he?
We've heard people saying google is making profit on their Ai offering, but I don't think anyone else has their infrastructure with TPUs etc.