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ChatGPT spending stalls as AI 'bubble' gets bigger
The Observer
|October 19, 2025
European spending on ChatGPT has stalled since May, according to an analysis of transaction data by Deutsche Bank.
Subscriptions are not a proxy for the financial health of OpenAI, let alone an indication that the AI “bubble” is about to pop. But they are one of the few flashes of information available to disorientated investors.
After surging in 2023, the monthly growth rate of consumer spending on the world’s leading chatbot has slowed in five major European countries representing 15% of users. This raises questions about how OpenAI plans to further monetise its product to fund nearly $1tn of deals focused on building out AI infrastructure. It’s exploring new revenue streams and an update last week will allow the chatbot to engage in “erotica” with verified adult users.
Denne historien er fra October 19, 2025-utgaven av The Observer.
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