Given that they all the bit AI players are still loosing money, it follows that their total costs are _higher_ that their API pricing would imply.
https://marketwise.com/investing/openai-losses-surge-to-21-b...
Anthropic is "profitable"... if you exclude compensation and compute cost commitments:
https://aitoolsrecap.com/Blog/anthropic-first-profit-2026-re...