The interesting companies to look at here are the ones that sell inference against open weight models that were trained by other companies - Fireworks, Cloudflare, DeepInfra, Together AI etc.
They need to cover their serving costs but are not spending money on training models. Are they profitable? Probably not yet, because they're investing a lot of cash in competing with each other to R&D more efficient ways of serving etc, but they're a lot closer to profitability than the labs that are spending millions of dollars on training runs.
They need to cover their serving costs but are not spending money on training models. Are they profitable? Probably not yet, because they're investing a lot of cash in competing with each other to R&D more efficient ways of serving etc, but they're a lot closer to profitability than the labs that are spending millions of dollars on training runs.