An indie can have hundreds of employees, millions upon millions in budget. However, so long as they remain independent. They are indies. They are also, always at risk, because they do not have a near limitless supply of money. Unlike shareholder owned studios. Also referred to as AAA, a publicly traded company, beholden to shareholder interests.
So, to cut it short. Indie = Independent = Privately Owned/No Shareholders. AAA = Publicly Traded/Beholden to Shareholders.
They are also, always at risk, because they do not have a near limitless supply of money. Unlike shareholder owned studios.
Also referred to as AAA, a publicly traded company, beholden to shareholder interests.