(Mis)Anthropic: The Math Ain’t Mathing So Good.
Show notes
Reuters “leaked” information from the forthcoming Anthropic prospectus and the numbers were pretty brutal. But that isn’t stopping all of Wall Street from lining up to invest in yet another AI company (SpaceX) with no discernible path to profitability. In this episode, Max digs through what we learned from the Reuters release and pairs it with other publicly available information on Anthropic to paint a bleak picture of a five-year old company that loses a ton of money but is somehow asking to be valued at around $2 trillion. Max then leads a philosophical discussion about the future of AI and punching babies. (That last part will make more sense in context.)
Resources
Reuters: Anthropic’s IPO prospectus shows sweeping AI vision, surging costs
Perplexity Finance: AMZN
Perplexity Finance: XOM
Perplexity Finance: C
Reuters: Anthropic IPO valuation hinges on $190-200 billion 2028 revenue forecast, sources say
AI: Reset to Zero: Anthropic Paces the Frontier, and Floors the IPO
Financial Times: Anthropic tells investors it will be profitable for second straight quarter
The New York Times: The Fallout From OpenAI’s Revenue Surprise
Bloomberg: Anthropic’s Annualized Revenue to Top $100 Billion in 2026, NYT Says
TechTarget: Report: Anthropic locks in $518B AI infrastructure commitments
Measured AI: Anthropic’s 15+ GW Data Center Build: Claude’s Compute, Campuses, and Chips
Investing.com: Earnings call transcript: Alphabet beats Q2 2026 estimates, shares fall on capex surge
Flowtivity: US vs China AI Models Compared: GPT-6 Astra, Fable 5.1, GLM 5.3, Kimi K3, DeepSeek V4, Qwen 3.8
BBC News: Amazon finally flows into profit
AEI: Who Should Antitrust Protect? The Case of Diapers.com
CNBC: SpaceX raises $25 billion in debt sale less than two weeks after IPO
Tech Times: Anthropic $15B Credit Line: Banks Commit $1B-Plus Each to Lock In IPO Roles
Yahoo! Finance: Wall Street tests lender appetite with $60 billion Broadcom-Anthropic deal
Dario Amodei: We Must Pace the Frontier
CSI Magazine: FCC says broadband competition is driving faster speeds and wider coverage
UNFTR Resources
Video: Anthropic, AI, and Why We Need to Talk About Punching Babies.
Essay: Mis(Anthropic).
Episode: The SpaceX IPO Fraud.
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