The trillion-dollar question hanging over AI

ANYONE following markets this year has heard the number. To justify the capital now being poured into artificial intelligence, the companies leading the buildout will eventually need to generate revenue at a scale the technology industry has never produced.

Anthropic chief executive Dario Amodei put a version of that arithmetic into public view, suggesting his company would need to reach US$1 trillion in annual revenue within a few years to stay ahead of its own spending.

That single figure has become shorthand for a broader concern – that the spending is happening now while the revenue that pays for it is expected to arrive later. How investors think about that gap should shape how they own one of the most consequential themes in markets today.