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Eric Schmidt dismisses AI bubble worries, points to Anthropic’s fast revenue growth
The Apex Times

THE APEX TIMES

Business/The Apex Times/Oct 22, 11:13 AM EDT

Eric Schmidt dismisses AI bubble worries, points to Anthropic’s fast revenue growth

The former Google CEO argued that artificial intelligence demand is being validated by customers, using Anthropic’s growth as a reference point and pushing back on the idea that the AI boom is just hype.

By The Apex Times Newsroom2 min readAI-assisted Apex article

Eric Schmidt, the former chief executive of Google and a leading voice in the technology industry, is pushing back on the notion that artificial intelligence is in a bubble. In comments reported by Yahoo Finance, Schmidt said AI is “not a bubble,” arguing that meaningful customer spending is the clearest announcement of durability.

Schmidt’s argument centered on Anthropic, the artificial intelligence startup known for developing AI models. He said Anthropic is growing “twice as fast as Google did” during Google’s earlier expansion period. In his view, that pace of growth reflects that buyers are paying for AI capabilities that meet real needs, rather than simply chasing trend-driven investments.

The comments also addressed a broader debate in markets and boardrooms about whether enterprise and consumer use of AI is accelerating in a sustainable way. Schmidt’s framing suggests that the question is not whether AI is exciting, but whether usage translates into revenue, and whether customers keep paying after early pilots.

While Schmidt referenced Google’s historical growth as a benchmark, he did not provide additional financial specifics in the report. The piece attributes the comparison to his remarks, but it does not spell out the exact growth measurement used, such as a particular revenue period, percentage basis, or whether the figure refers to year-over-year growth in a specific segment.

Alphabet, the parent company of Google (ticker: GOOGL), remains heavily tied to AI infrastructure and model development. Investors have watched Alphabet for signs that its own AI investments translate into monetizable products, including tools that can be used by developers, businesses, and consumers across search, advertising, and cloud offerings.

At the same time, Anthropic has become one of the best-known competitors in generative AI. Schmidt’s emphasis on Anthropic’s rapid growth implicitly supports the view that the market for usable AI is broad enough to sustain multiple players, rather than being concentrated entirely within a single incumbent.

The report does not indicate that Schmidt’s comments were tied to any new Alphabet disclosure, guidance, or product announcement. Nor does it specify what customers are buying from Anthropic, or what portion of revenue growth is attributable to particular products or partnerships.

What to watch next is whether the industry’s “bubble” debate cools as more companies show sustained revenue tied to AI deployments. For Alphabet, the key question remains how quickly its AI capabilities convert into stable, recurring monetization, particularly in areas where customers can justify spend beyond experimentation.

Why It Matters

  • Schmidt’s comments reinforce the market narrative that revenue-backed adoption is separating durable AI demand from hype-driven spending.
  • The Anthropic comparison suggests competition in AI can remain intense without invalidating the category’s overall growth story.
  • For Alphabet and other large AI investors, the core yardstick remains whether AI spend converts into sustained monetization, not just impressive demos.

Sources

Key Facts

  • Eric Schmidt said artificial intelligence “is not a bubble,” according to comments reported by Yahoo Finance.
  • Schmidt argued that customer willingness to pay is evidence that AI is delivering useful technology.
  • He pointed to Anthropic’s growth, saying it is growing “twice as fast as Google did.”
  • The reported remarks do not include additional financial details in the description provided, such as specific revenue figures or time periods.
  • The comments were not described as tied to any new Alphabet filing or guidance in the provided material.

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