With a headline net loss of $42 billion, an $8 billion operating cash loss and $518 billion in committed capital spending ahead. This is definitely a long-term bet on AI infrastructure. It is not a value investment based on current fundamentals.
Anthropic needs to grow its revenue 40 fold within three years while keeping those massive capital costs under control. Can they make it with so many models around, example openAI, Qwen, Kimi , Zhipu etc.)
I want to see the final IPO price before making my decision. If it prices at a valuation similar to SpaceX, I will pass on this one.
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