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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

#301

Post by 33vss »

semiquaver wrote: post #299
Zafira wrote: post #238

Earlier quoted context omitted.

Personally, I’m just exhausted. They are not obligated to be truthful here, so the entire thing is interpreted based on vibes. If you are an AI booster, this is proof that the demand is there; if you aren’t, you’re baffled at where these numbers are coming from.

> They are not obligated to be truthful here What are you talking about? It’s securities fraud for a CEO to lie about the financials of a company regardless of whether it’s public or private.

more than likely what he meant is their metrics may be non-GAAP.

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

#302

Post by mark_l_watson »

Until Anthropic, OpenAI, and Tesla have IPOs and are then bound by some laws to be truthful, I don’t want to bother about their possible valuations.

I do care about: how useful their products are vs. cost and how secure are their businesses. Actually I only care about the first thing since these services are hot swap-able with some effort.

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

#303

Post by solfox »

andrewl-hn wrote: post #136
tredre3 wrote: post #114

Earlier quoted context omitted.

> The branding of Claude is so much stronger than ChatGPT. Absolutely not, you live in a bubble. Everybody knows about ChatGPT. Few non-programmers have heard of anthropic or claude, nor do they care. But they all know what ChatGPT is.

ChatGPT is a word now. People may use Perplexity, or Google, or Grok to ask questions online. And later they tell you "ChatGPT told me this". It's a new "I googled in Yahoo".

Perhaps it's just regional, but I've been noticing more and more people saying "chat" to describe ANY ai chat interface including ChatGPT. They might have a Kleenex problem on their hands.

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

#304

Post by vishnugupta »

c0rruptbytes wrote: post #248
Zafira wrote: post #238

Earlier quoted context omitted.

Personally, I’m just exhausted. They are not obligated to be truthful here, so the entire thing is interpreted based on vibes. If you are an AI booster, this is proof that the demand is there; if you aren’t, you’re baffled at where these numbers are coming from.

i would assume investors giving billions of dollars have done their due diligence and not base it off vibes...

You’d be surprised how much vibe is there in VC investing.

When one is under the grip of irrational exuberance and FOMO due diligence goes out the window.

For example look at Sequoia’s investment into FTX and article about Sam that accompanied.

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

#305

Post by shimman »

3ff wrote: post #295
SpicyLemonZest wrote: post #289

Earlier quoted context omitted.

> (Also in Axios today is an anonymously sourced note that "An AI consultant tells Axios one of their clients recently spent half a billion dollars in a single month after failing to put usage limits on Claude licenses for employees" - times that by 12 and you get an extra $6 billion in annualized run-rate!) This one client, then, is 12.8% of Anthropic's run-rate revenue? That does not exactly fill me with confidence…

lmao got him. im really not sure why he keeps parroting on about this. its all irrelevant frankly. companies play games. non-gaap revenue recognition, adjusted operating income.... boo-ya. wait for the somewhat official doc's to come out, then its worth talking about.

Yeah, until they release their S1 all numbers are highly suspect.

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

#306

Post by executivevice »

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…

> Approximately 56% to 60% of U.S. initial public offerings (IPOs) lose absolute value over a five-year period. Historically, the median IPO stock has lost roughly 41% of its value five years after its first day of trading.

Ipos are somewhat notoriously risky investments.

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

#307

Post by shimman »

Zafira wrote: post #266
xyzzyz wrote: post #249

Earlier quoted context omitted.

How are they “not obligated to be truthful”? Lying to investors is literally a crime.

You need to think about this more creatively. What we are talking about is entirely based on this one term in the announcement: run-rate revenue. This is a meaningless term just like how “clinically proven” for vitamins is a way for the companies to use weasel words to imply something without truly being able to back it up, but also not actually lying. There is no legal definition of “clinically proven” so, what exac…

You need to give these people actual examples because rarely can they see the line between two dots. A great example of cooking the books is to do circular investments, adopt a bunch of users that are likely to churn, or to take your single "best" week of revenue then multiple it by 52. All things to over inflate the perceived value of an IPO.

IDK if these tricks would work anymore but then again fraud is legal now so who knows.

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

#308

Post by AlexandrB »

c0rruptbytes wrote: post #248
Zafira wrote: post #238

Earlier quoted context omitted.

Personally, I’m just exhausted. They are not obligated to be truthful here, so the entire thing is interpreted based on vibes. If you are an AI booster, this is proof that the demand is there; if you aren’t, you’re baffled at where these numbers are coming from.

i would assume investors giving billions of dollars have done their due diligence and not base it off vibes...

There are plenty of examples of investors going off of vibes: Theranos, Juicero, WeWork. Though Anthropic would be a particularly egregious example if it does end up failing.

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

#309

Post by 256BitChris »

vmbm wrote: post #296
SpicyLemonZest wrote: post #289

Earlier quoted context omitted.

> (Also in Axios today is an anonymously sourced note that "An AI consultant tells Axios one of their clients recently spent half a billion dollars in a single month after failing to put usage limits on Claude licenses for employees" - times that by 12 and you get an extra $6 billion in annualized run-rate!) This one client, then, is 12.8% of Anthropic's run-rate revenue? That does not exactly fill me with confidence…

Yeah, I think it is pretty obvious at this point that users have gotten over their skis a bit on the fixed rate plans. I suspect a lot of folks were playing around with agentic workflows on a $10-200/month plan and then started implementing them at their companies under enterprise accounts not realizing that API based billing would result in easily 10-100x the costs. Running hundreds of agents 24/7 is all fun and gam…

GitHub doesn't have access to its own models so it has to pay the prices of the model it uses.

People confuse price with cost all the time. The price of Opus has dropped from $75/1M output tokens to $25. That's the price. The cost is much lower and according to Dario, about a month ago, they had about a 73% margin.

I don't understand how anyone would use GitHub copilot...it's basically running a custom harness and using close to API pricing for Opus. This is why Microsoft is cooked in this game.

But yeah, I don't understand why people switch from subscription to API prices for Claude. They're way higher, but again that's price and not necessarily the cost to Anthropic to serve.

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

#310

Post by lurk2 »

c0rruptbytes wrote: post #248
Zafira wrote: post #238

Earlier quoted context omitted.

Personally, I’m just exhausted. They are not obligated to be truthful here, so the entire thing is interpreted based on vibes. If you are an AI booster, this is proof that the demand is there; if you aren’t, you’re baffled at where these numbers are coming from.

i would assume investors giving billions of dollars have done their due diligence and not base it off vibes...

WeWork, Theranos, FTX
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