Sam Altman said the artificial intelligence industry has not yet delivered an "iPhone moment" in a podcast interview released around August 23-24, arguing that the main problem is product design rather than the underlying technology. He said AI models and infrastructure are powerful, but no company has created an indispensable product for ordinary consumers. Altman also acknowledged that he and other industry figures overestimated how quickly adoption and economic disruption would follow GPT-4's 2023 launch. OpenAI's Q2 2026 revenue rose 18% to $6.7 billion from $5.7 billion in the prior quarter, but its operating loss widened to $12.3 billion, implying spending of nearly two dollars for every dollar of revenue. Anthropic reported roughly $11.6 billion in Q2 revenue, more than double its prior-quarter figure, and recorded its first adjusted operating profit. Both companies are reportedly considering initial public offerings, while OpenAI has pushed its public-listing plans to 2027 amid competitive pressure.