Claude financials leaked last week, they are running with about -200% operating margins.
replyWe also have OpenAI numbers, where people speculate that the about 150% of the margins spent on "marketing" is a fake line used to hide operational costs.
But isn’t that including the cost of training, and I am not even sure if it’s training that very model?
replyIn an interview earlier this year I remember Dario saying that the models are profitable, ie they more than pay back their inference and training over time. But because they invest in that explosive growth they have a deep negative cash burn.
And whatever markup the AI labs make, that’s on top of nvidia’s markup, micron’s markup, etc. It’s an industry where every supplier is adding a 70-80% markup!
AFAIK, no. For Claude, many people have reported that it's not including the training costs. But I didn't personally look at the data.
replyFor OpenAI, absolutely not, that's not including training costs. But I do personally accept that it can be actual marketing costs.