www.siliconcontinent.com/p/three-theses-on-ai-value-capture
1 correction found
Reported monthly revenue, OpenAI and Anthropic. Annualized run rate divided by twelve. Sources: built by us on company disclosures and media reports, after Evans 2026.
This caption is attached to the wrong figure. The image directly above it is a hyperscaler capex chart, not an OpenAI/Anthropic monthly revenue chart.
Full reasoning
The article repeats the caption "Reported monthly revenue, OpenAI and Anthropic..." immediately after Thesis 2. But the figure above that caption is not a revenue chart.
On the page itself, the text appears after the paragraph about hyperscaler capex and just before "Thesis 3." The image it captions is a chart titled "The four largest hyperscalers plan ~$665bn of capex in 2026" with the y-axis labeled "Annual capex ($bn)" and legend entries for Microsoft, Alphabet, AWS, and Meta. That directly contradicts the caption's claim that the figure shows reported monthly revenue for OpenAI and Anthropic.
So this is not a matter of interpretation: the caption text does not match the figure it accompanies in that location.
2 sources
- Three theses on AI value capture - Silicon Continent
After the hyperscaler-capex discussion, the page shows the text: "Reported monthly revenue, OpenAI and Anthropic. Annualized run rate divided by twelve..." immediately before "Thesis 3. Intelligence is not the bottleneck."
- Figure used above the repeated caption
The figure itself is titled "The four largest hyperscalers plan ~$665bn of capex in 2026" and shows annual capex for Microsoft, Alphabet, AWS, and Meta.