The "bubble" is being driven by blockbuster earnings. The market is irrational but it's not brain dead.

This seems like a reasonable response to demonstrable fact (e.g. https://www.cnbc.com/2026/08/15/anthropic-revenue-jumps-to-o...) so I don't see why it's getting downvoted.

I don't think people really understand that this market cycle is very different from the internet bubble because of all the strong earnings.

	▲	tzone 24 minutes ago \| parent \| next [-]
		Well we don't know what the margins on AI models will be. If the proprietary models hit a ceiling pretty soon, then open source models and harnesses could close the gap, at that point it becomes much more of a lower margin business. And OpenAI and Anthropic will no longer be able to dominate as much as they are today. That would 100% affect their projected multi trillion valuations negatively.
	▲	Apocryphon 31 minutes ago \| parent \| prev [-]
		But what about the high expenses?