BREAKING
Exponential View: Boom, Not Bubble
0
B
quarterly revenue
0
yr
doubling period
0
B
quarterly Capex
OpenAI and Anthropic Surge
OpenAI prior
1.7
OpenAI Q1'26
6
Anthropic prior
0.4
Anthropic Q1'26
4.8
0
x
token use YoY
0
+
models released
0
%
Google Cloud YoY
Boom Case vs Skeptics
Boom case
●
Revenue catching up to Capex
●
Only 1 of 5 gauges red
●
Customer-led real demand
Skeptics
●
J.P. Morgan: $650B needed for 10%
●
95% of genAI pilots earn nothing
●
Gary Marcus warns of a bubble
$1T Capex by 2027 Is the Test
AI NEWS BLITZ
Research firm Exponential View says AI is a boom, not a bubble.