Investors are increasingly concerned about a potential AI bubble due to slowing revenue growth rates, even as companies continue to generate substantial revenue. Companies like Anthropic have shown impressive revenue increases, but their growth has decelerated compared to previous periods. This shift from "fast growth and getting faster" to simply "fast" growth is impacting investor expectations. OpenAI also revised its revenue forecast downwards, signaling potential challenges and a re-evaluation of how sales are counted. The core issue for investors is not just current revenue, but the projected rate of future growth, which underpins current valuations.Competition among AI companies is driving down prices, even as user adoption increases, leading to reduced revenue per customer for individual firms. The increasing capability of open-source and international AI models further intensifies this price competition. Consequently, AI companies are facing pressure on both revenue growth and profit margins. Anthropic's IPO valuation has reportedly decreased, reflecting these growth concerns and its significant operating and net losses. These companies have made massive investments based on assumptions of continued hypergrowth, making them vulnerable to slower growth.