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WSJ financials narrative, compute spending exploding faster than revenue

April 6, 2026Chubby, Andrew Curran, Rohan Paul

Chubby, Andrew Curran, and Rohan Paul cite WSJ reporting that both OpenAI and Anthropic have surging revenue but even faster growing training costs, reframing the frontier race as financing compute clusters.

WSJ obtained confidential financials from both OpenAI and Anthropic ahead of their expected IPOs later this year.
The core tension: revenue is exploding, but training costs are exploding faster.
OpenAI projects $121 billion in compute spending by 2028
Projected OpenAI and Anthropic model training spend for the remainder of this decade, in billions.
OpenAI and Anthropic just showed that modern AI is becoming a race to finance compute, not just invent better models.
Chubby
Andrew Curran
Rohan Paul
Jason SaaStr.Ai Lemkin
computedata centeripoopenaianthropicdata center

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