AI Bubble Concerns at DealBook Summit
Anthropic CEO Dario Amodei spoke candidly about concerns that the AI industry may be in a bubble at the New York Times DealBook Summit on December 4, 2025.
Criticism of Competitors
Amodei acknowledged that AI companies need to take risks to compete with each other and authoritarian adversaries (a reference to China), but pointed out that some players are “not managing that risk well, who are taking unwise risks.”
He specifically mentioned people who “just kind of, like constitutionally, just wants to ‘YOLO’ things, or just likes big numbers” – widely seen as a veiled criticism of OpenAI CEO Sam Altman.
No “Code Reds” Needed
While reports emerged this week that OpenAI CEO Sam Altman declared a “code red” at his company after Google released Gemini 3, Amodei stated that Anthropic has issued no “code reds.”
“We have a little bit of a privileged position where we can just keep growing and just keep developing our models.”
He explained that Anthropic faces relatively less competitive pressure because it tailors its products more for companies than consumers.
Remarkable Growth Rate
Amodei revealed that Anthropic’s revenue has grown 10x per year over the past three years:
- 2023: Zero to $100 million
- 2024: $100 million to $1 billion
- 2025 (projected): $8-10 billion
Chip Price Decline Risk
On AI bubble concerns, Amodei pointed to a specific risk: as new chips come out that are faster and cheaper, the value of old chips can decline. Those who take excessive risks could overextend themselves, he warned.
Looking Ahead
Anthropic currently excels in enterprise coding, but is looking beyond that to finance, biomedical, retail, and energy sectors.