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Nah. They are not, everyone is losing money, and just staying alive from gov subsidies. A claude PRO license is 20 usd/month, and for it to be profitable it should be somewhere around 200-300/month.

The bubble is going to burst soon.

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I think the Pro and other subs allow them to save big on ads (Claude Code use is required and it pushes their ads) and allow easy access to free data (CC occasionally solicits feedback and session sharing, which I'm pretty sure some users oblige). Also CC does massive prompt caching tailored to work in lockstep with their platform. With all that and who knows what else, I'd say it balances over time.

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