Both Anthropic & OpenAI have debt repayments coming up in 2027 that: cannot be restructured cannot be postponed they absolutely cannot pay back without even more VC money, and that faucet is being cut off right now. Well then. I stand corrected. The random Internet person with unprecedented access into the books & private financial dealings of two major competitors has an air-tight argument. I suggest we come back to this thread in a year’s time and see how it is playing out.