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Dylan Patel – Anthropic & OpenAI will have most of the world’s compute by 2028

Dwarkesh Podcast

Aug 25, 2026

8/25/2026

AI Infrastructure Financing Could Create Macro-Financial Strain Through Credit Market Crowding Out

Dylan Patel – Anthropic & OpenAI will have most of the world’s compute by 2028 · Dwarkesh Podcast

Business, Finance & Industries · Aug 25, 2026

AI infrastructure may become a macro-financial constraint before widespread AI adoption, as an estimated $11 trillion in 2024–29 capital spending would require over $5 trillion in new debt, crowding out other borrowers, raising credit costs, and potentially depressing valuations and slowing deployment.


8/25/2026

OpenAI And Anthropic Could Become Major Buyers Of New AI Compute And Shape Global Capacity And Pricing

Dylan Patel – Anthropic & OpenAI will have most of the world’s compute by 2028 · Dwarkesh Podcast

Business, Finance & Industries · Aug 25, 2026

OpenAI and Anthropic may become the dominant buyers of new AI compute because their high revenue per megawatt lets them outbid other users, potentially absorbing half of global incremental capacity and controlling most usable flops by late 2028 if current trends continue.


8/25/2026

AI Expansion Depends On Coordinated, Long-Lead Supply Chains And Delayed Capacity Realignment

Dylan Patel – Anthropic & OpenAI will have most of the world’s compute by 2028 · Dwarkesh Podcast

Business, Finance & Industries · Aug 25, 2026

AI expansion is constrained by a slow, interconnected supply chain—not just chip fabrication—so even strong demand and profits may initially produce scarcity, higher component prices, and rents before new power, data centers, lithography, memory, substrates, and foundry capacity come online.


8/25/2026

Frontier Labs May Increase Internal Compute for Research and Training Even as Inference Profits Rise

Dylan Patel – Anthropic & OpenAI will have most of the world’s compute by 2028 · Dwarkesh Podcast

Science, Technology & Innovation · Aug 25, 2026

Frontier AI labs may increasingly allocate compute to internal research and training rather than inference, because stronger models can improve research, optimization, and successor development while compounding market concentration. Anthropic’s rising compute alongside plateauing ARR is cited as evidence, though regulation and limits on model use or release could constrain returns and future capacity demand.