Madness and mayhem: Azeem Azhar on the AI correction, Nvidia and the open-weight camp

Azeem Azhar argues the recent AI market turmoil is a flight to quality rather than a collapse, with enterprise spending still rising. AI revenue reached $188bn in the twelve months to October and now runs at $345bn a year, 4.2 times its level a year ago, while Anthropic's growth slowed from 147% to 45% a quarter. He expects Nvidia and the open-weight camp to have their wings clipped, and sees the neoclouds as the weak link.