Tracking the spend and revenue of frontier AI companies (May 2026)

Is AI
Profitable
Yet?

NO.

Everyone's Broke.

Total Industry Spend
$1,263B
Total Industry Revenue
$135.2B
Cumulative PNL
−$1,127.8B
Spent since page load
$0

Spend vs Revenue by Company

Total Spend on AI Total Revenue from AI
CompanyAI SpendAI RevenueCumulative PNL

Why I Built This

Many industry experts and companies claim AI profitability by 2030 is possible, so this page tracks how close we really are: cumulative spend versus revenue across the major AI companies, in one place. Perhaps one day the big "NO" becomes a "YES." So far, the big winner is NVIDIA, taking huge profits as the primary chip supplier to the AI sector.

How the Numbers Work

  • All figures are estimated cumulative totals (all-time), built from leaked financials, SEC filings, earnings calls, and industry estimates (Bloomberg, WSJ, The Information, Epoch AI). The punchline "Everyone's Broke" is intentionally punchy — don't take it absolutely literally.
  • Big-tech figures include infrastructure capex, which is why Amazon and Google look far in the red despite being hugely profitable companies overall: the question is whether the AI investment has broken even, not company-wide profitability.
  • Spend includes direct R&D, compute, and capital expenditure on AI infrastructure (data centres, chips, networking). Indirect AI revenue (e.g. AI-boosted search or Office) is excluded — there's no reliable way to attribute it.
  • The "spent since page load" counter uses current annual burn rates, not historical averages.

Disclaimers

The AI economy is circular — Google funds Anthropic, Anthropic runs on Google Cloud, Microsoft co-invests with OpenAI — so aggregate figures double-count some revenue flows. This is a best-effort honest picture, not a financial audit.

Page Updates

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  • 2026-07-02Added footer menu: Page Updates, Buy Me a Coffee and Privacy Notice.
  • 2026-07-02Company list updated: Mistral AI and Cohere AI removed, Enie-Lat added.
  • 2026-07-02Redesign: light palette matching paulm.com.ar, per-company spend vs revenue bars, wider layout.
  • 2026-07-02First version published (data snapshot: May 2026).

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Last updated: July 2, 2026.