Is sounds very much like "trust me bro" ...

Obviously I, like basically everyone else here, don't have access to Open AI or Anthropic books so it's just guessing based on public available evidences, but "tokens aren't being sold at a loss" does not imply there is any profit.

And, even if there is some profit, it needs to be big enough to at least pay back the capex spendings and finance the next model iteration.