The author is pretty obvious and exhaustive about what he means by "losing": AI capex bubble is unsustainable, AI revenue is circular, no meaningful AI compute demand outside of OpenAI and Anthropic, AI products are mediocre at best (and still heavily subsidized, at that), AI is causing various mental health crises, OpenAI lost $20.9 billion on $13 billion in revenue in 2025.

OpenAI spent $17.2 billion on Azure in 2025 making the infrastructure bill exceed total revenue by about $4 billion BEFORE even counting salaries, research, stock compensation or anything else.

I feel like the responses here are purposely obtuse and people are refusing to realistically evaluate the economics of Anthropic and OpenAI