The world can’t keep up with AI Labs

Coding agents are driving record AI lab revenue growth—Anthropic has grown 3x year-over-year with Claude Code capturing 2-4% of public GitHub commits in January alone. However, the industry faces a critical capacity crisis: AI labs cannot secure enough GPU infrastructure from hyperscalers despite projecting $30B+ annual revenue, creating a cash flow gap between current profitability pressures and R&D investments needed for next-generation models. Hyperscalers (Amazon, Google, Microsoft, Meta) are betting $600B+ annually on infrastructure, but the rigid contract-based supply chain cannot adapt quickly to unexpected demand surges like the sudden explosion of agentic systems.