The big labs have 50+% margins on serving the models, the training is where they lose money. But every new model boosts OpenAI's revenue growth which is unheard of at their size (300+% YoY). Therefore it's completely reasonable to keep doubling down and making bigger bets.

Most people miss that they have almost a billion free users that are waiting to be monetized. Google makes 400B a year and it's crazy to think OpenAI can't achieve some percentage of that. Why would you slow down and let Google catch up for the sake of short term profitability.