New with @ashleycapoot 📰 OpenAI and Anthropic have been the principal beneficiaries of the spend-at-all-costs mentality, which has fueled their exponential growth rates and pushed both of the AI model leaders to valuations approaching $1 trillion. Now, as they gear up for potentially historic IPOs — both filed confidentially in early June — the mood around AI is shifting, and business leaders are no longer willing to throw money at Anthropic or OpenAI without a clear picture of a return on their investment. “Current growth rates for Anthropic and OpenAI are the fastest they will ever be, which is mostly a matter of basic math,” Gil Luria, an equity analyst covering tech companies at D.A. Davidson, told CNBC. “That is a good reason to go public now, as is the concern that some of their largest enterprise customers may start limiting their out-of-control token spend.” @CNBC(Kate Rooney)