Skepticism persists regarding the enormous valuations of AI majors like Anthropic and OpenAI, despite vast private funding and projections of exponential growth. These valuations hinge on colossal infrastructure investments targeting mature Predictive AI and nascent Generative/Agentic AI markets. Yet, concerns about AI errors, high operating costs, and complex, circular funding deals introducing systemic risks are prominent. While future efficiency and cost reductions might justify these figures, the text highlights that "hardnosed investors" prioritize concrete evidence over optimistic, "blue-sky" visions. The current scenario blends immense potential with considerable financial uncertainty.