Does AI really have a bubble?


Anthropic: Revenue $20B, Valuation $950B.
Walmart: Revenue $713B, Market Cap $945B.
Samsung: Revenue $236B, Market Cap $1.31T.
Entities like Toyota, Ford, Volkswagen, Shell, Sinopec, and PetroChina have revenues in the hundreds of billions of dollars, but their market values are often less than half of Anthropic's, or even just one-tenth.
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