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Who are you thinking of? All the "frontier" AI vendors are borrowing money to invest in AI (and buy from Nvidia). None of these Nvidia customers are actually m

Who are you thinking of? All the "frontier" AI vendors are borrowing money to invest in AI (and buy from Nvidia). None of these Nvidia customers are actually making money from it. Anthropic and OpenAI are two cash burning machines that Nvidia has invested billions into --- so they can continue buying from Nvidia. Bottom line: A lot (if not most) of Nvidia's cash flow is borrowed money --- and some of it is borrowed from Nvidia itself. Some of it isn't even "cash flow". It's contract futures being counted as cash flow --- a la Enron accounting.

JumpCrisscross 12d ago
> Anthropic and OpenAI are two cash burning machines What is your source for Anthropic being cash-flow negative?
- jqpabc123 12d ago
  https://aitoolsrecap.com/Blog/anthropic-first-profit-2026-revenue-breakdown https://aitoolsrecap.com/Blog/anthropic-first-profit-2026-re... On a GAAP basis (including stock compensation), Anthropic is likely still unprofitable. At the same time they gushed about a small quarterly profit using "Enron" accounting, they borrowed $30 billion more. And this is just the tip of the "Enron" game being played here. By utilizing these structured finance vehicles, Anthropic has sequestered massive hardware deployments entirely off its corporate balance sheet. https://finance.yahoo.com/technology/ai/articles/anthropic-spvs-stack-71-billion-000514097.html https://finance.yahoo.com/technology/ai/articles/anthropic-s...
  - jqpabc123 12d ago
    And the game continues. Anthropic just announced it's second "profitable" quarter using "adjusted operating income". This reportedly means they achieved this remarkable goal by excluding some really big expenses like revenue sharing and the cost of model training. https://www.msn.com/en-us/technology/artificial-intelligence/the-very-big-caveat-to-the-report-that-anthropic-is-profitable-for-a-second-straight-quarter/ar-AA2cbhG0 https://www.msn.com/en-us/technology/artificial-intelligence...

JumpCrisscross 12d ago

> Anthropic and OpenAI are two cash burning machines What is your source for Anthropic being cash-flow negative?

jqpabc123 12d ago
https://aitoolsrecap.com/Blog/anthropic-first-profit-2026-revenue-breakdown https://aitoolsrecap.com/Blog/anthropic-first-profit-2026-re... On a GAAP basis (including stock compensation), Anthropic is likely still unprofitable. At the same time they gushed about a small quarterly profit using "Enron" accounting, they borrowed $30 billion more. And this is just the tip of the "Enron" game being played here. By utilizing these structured finance vehicles, Anthropic has sequestered massive hardware deployments entirely off its corporate balance sheet. https://finance.yahoo.com/technology/ai/articles/anthropic-spvs-stack-71-billion-000514097.html https://finance.yahoo.com/technology/ai/articles/anthropic-s...
- jqpabc123 12d ago
  And the game continues. Anthropic just announced it's second "profitable" quarter using "adjusted operating income". This reportedly means they achieved this remarkable goal by excluding some really big expenses like revenue sharing and the cost of model training. https://www.msn.com/en-us/technology/artificial-intelligence/the-very-big-caveat-to-the-report-that-anthropic-is-profitable-for-a-second-straight-quarter/ar-AA2cbhG0 https://www.msn.com/en-us/technology/artificial-intelligence...