Open-weight models now take 75% of queries, and OpenAI/Anthropic sit atop tech's financial chain

FinanceYF5 · x · 2026-09-17

A thread maps the AI industry's financial interdependence: open-weight models' share of queries rose from 40% to 75% within a year, squeezing OpenAI and Anthropic's business models. The two labs underpin 13% of AWS and 27% of Google Cloud revenue, 70% of Microsoft's AI-specific revenue, while Big Tech booked $160B in Q2 'other income' heavy with private-market markups. If their revenue growth misses spending, the shock hits cloud, chips, and balance sheets at once.

Related event: Closed-Model Query Share Falls From 60% to 25%, Pressuring OpenAI(2 posts)→

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