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Anthropic raises $65B in Series H funding at $965B post-money valuation

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Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#181

Post by jmalicki »

eutropia wrote: post #172

What is run-rate revenue and how is it different than revenue (classic)?

Revenue is an integral over the past year or past quarter.

Run-rate is taking a recent measurement and multiplying it out so it will span a year. Basically, it assumes they keep all of their current contracts, and don't gain any new ones.

Forward-looking revenue is an estimate of what the integral will be from now to a year from now.

For a growing company, run rate is between past revenue and estimates of future revenue.

Forward-looking revenue estimates are often made up from whole cloth so are highly untrustworthy. But a run-rate is saying "we've already been making this much money, we just need to maintain where we are and that's how much we'll bring in". Backward-looking revenue for something like Anthropic is meaningless because almost all of their customer base is recently acquired - they're growing like crazy, not 20% per year.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#183

Post by merlindru »

eutropia wrote: post #172

What is run-rate revenue and how is it different than revenue (classic)?

it's just extrapolation.

it's

    (revenue of this month) * 12
in other words, "if every month was as good as this one, here's how much we'd make in a year"

that means, of course, if you make $1000 in january, your RRR is $12000.

...even if you end up making $0 every other month and thus only $1000 total that year.

thats why RRR is perhaps harmful. especially when it's not growing. it can be much bigger than the actual revenue. in anthropics case it's rapidly climbing, though, so it underestimates revenue if that growth keeps up

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#184

Post by nozzlegear »

Marciplan wrote: post #122
jmathai wrote: post #86

Earlier quoted context omitted.

The branding of Claude is so much stronger than ChatGPT. Even Anthropic is such better branding than OpenAI (especially considering they're not open at all). My wife knows about Claude because that's what I use and we pay for. She uses it also as a result. And inevitably she will talk about Claude to her friends.

for normies it is the exact opposite.

What's a normie?

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#185

Post by [deleted] »

pas wrote: post #170
taude wrote: post #67

Earlier quoted context omitted.

Yeup, no shortage of tech IPOs over the past five years that are now valued at like 5% of what they were after being dumped onto the market: ZoomInfo, Bumble, Gemini And many more that are 50% of what they were: Snowflake, Coinbase And many more that went back to private companies and then were sold off: Carbon Black, etc... I'm actually too lazy to go list out all of them. But employees, beware, of those gnarly lock…

... still, "on average" IPOs tend to make money, no? that's why people (fight to be able) to buy them. this gives a nice comfy exit to many late-stage investors, etc. and, of course, it's hard to say that it's great that these companies are mere shadows of themselves post-IPO, but also it's impossible to non-misleadingly assess each IPO as if they were in a vacuum. obviously Coinbase is/was a stupid venture, but at t…

[deleted]

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#186

Post by bombcar »

lumost wrote: post #56
alecco wrote: post #52

Earlier quoted context omitted.

Anthropic is at the mercy of 3rd party datacenter contracts. AFAIK OpenAI will soon run mostly on on their own GPUs. I don't like Altman and I am still upset about his memory deal last year but he prepared for the current shortages months before anybody else. Meanwhile, Anthropic seems to lack any plans besides third party contracting. IMHO they got very lucky with xAI and Google having spare capacity and willing to…

Which also leaves OpenAI vulnerable to NVidia's aggressive pricing. To my knowledge Anthropic is relatively well positioned across multiple compute vendors/hardware providers.

Isn’t everyone at the mercy of NVidia deciding that everyone has to use NVidAI and refusing to sell anything to anyone?

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#187

Post by reactordev »

simonw wrote: post #165

> Since our Series G in February, adoption has continued to grow across global enterprise customers, and our run-rate revenue crossed $47 billion earlier this month. OK, so their self-reported run-rate revenue hit $47bn in early May. For comparison: Apr 6th 2026: https://www.anthropic.com/news/google-broadcom-partnership-c... - "Demand from Claude customers has accelerated in 2026. Our run-rate revenue has now surpas…

Shhh, you’ll make the numbers not make sense…

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#188

Post by bombcar »

llm_nerd wrote: post #133
alecco wrote: post #52

Earlier quoted context omitted.

Anthropic is at the mercy of 3rd party datacenter contracts. AFAIK OpenAI will soon run mostly on on their own GPUs. I don't like Altman and I am still upset about his memory deal last year but he prepared for the current shortages months before anybody else. Meanwhile, Anthropic seems to lack any plans besides third party contracting. IMHO they got very lucky with xAI and Google having spare capacity and willing to…

>Anthropic is at the mercy of 3rd party datacenter contracts I mean, this is a bit like complaining that McDonalds doesn't have their own herds of cows. OpenAI actually isn't in the business of buying GPUs or running data centres, and it's pretty weird to think that's an advantage (though it comes up constantly on here, as Anthropic keeps eating OpenAI's lunch). There are many suppliers that are desperate to fight fo…

To be fair apparently a big part of McDonald’s success is having their own real estate.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#189

Post by kilroy123 »

koolba wrote: post #167
kilroy123 wrote: post #160

Earlier quoted context omitted.

Agreed. My Mom, who is a grandma, uses ChatGPT every day. Lots of nontech people use it.

Is she paying for anything though?

Yeah, now she does. She got hooked. Which is very interesting to me. Same with my partner.

Re: Anthropic raises $65B in Series H funding at $965B post-money valuation

#190

Post by SatvikBeri »

eutropia wrote: post #172

What is run-rate revenue and how is it different than revenue (classic)?

Run rate is annualized revenue based on some recent period, e.g. taking the last month of revenue and multiplying by 12. Revenue (classic) is a historical measure, e.g. revenue in 2025.
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