The State of AI Gross Margins in 2025

I'm really surprised by such high margins... They just don't seem right, I thought Anthropic and OpenAI were not profitable yet... I don't understand how they came up with such claims of profit margins... can you someone explain me? :)

    Some companies include the cost of free users within it, while others do not.

"If you ignore the costs of all the free stuff we give away, we're TOTALLY PROFITABLE! Give us moar money to throw on the pyre!"