Does the Rise of Anthropic Signal a Sustainable AI Economy or Another Technological Bubble?

Kevin Ngunza Maniata

MPRA Paper from University Library of Munich, Germany

Abstract: The recent ascent of Anthropic, a United States-based artificial-intelligence company founded in 2021 by former OpenAI executives, has reignited the debate over whether the global AI boom represents sustainable technological transformation or a new financial bubble. With a private valuation surpassing 180 billion USD and projected annualized revenue exceeding 20 billion USD by 2026, Anthropic embodies both the promise of rapid innovation and the risks of speculative exuberance. This paper examines the firm’s growth within the theoretical frameworks of Schumpeterian innovation, Minskyan financial cycles, and contemporary analyses of digital-economy concentration. Drawing on publicly available financial data, corporate disclosures, and secondary literature, it interprets Anthropic’s trajectory as a case study in the financialization of cognition. The discussion highlights how alliances with Amazon and Google have turned frontier AI into an infrastructure-dependent oligopoly, while unresolved issues of data ownership and legal accountability question the durability of such valuations. The study concludes that Anthropic’s rise illustrates the dual nature of modern technological capitalism: the capacity for exponential value creation tempered by systemic fragility and institutional lag.

Keywords: Artificial Intelligence; Anthropic; Financialization; Valuation; Technological Innovation; Industrial Organization; Intellectual Property; Speculative Cycles. (search for similar items in EconPapers)
JEL-codes: G32 K11 L86 M21 O33 (search for similar items in EconPapers)
Date: 2025-10-18
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