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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

#371

Post by hgoel »

simonw wrote: post #327
hgoel wrote: post #318

Earlier quoted context omitted.

It doesn't really feel like an image model fits with the "theme" of Anthropic's products. I see Claude as much more of a productivity tool than say, ChatGPT, so if they were to release an image model, I would expect it to be useful for presentations etc. But, then the images need to be more like infographics, which are difficult for an image model to get right. On the other hand, they are much easier for a strong cod…

It's interesting. Until quite recently image models felt like toys, and Anthropic opting out seemed like a good decision to me. I feel like the "trained on stolen data" thing feels a lot more real with image models, since they so clearly compete with the artists whose work was used - so it felt aligned with Anthropic's image as the "more ethical" of the labs. But then Nano Banana happened, and ChatGPT Images 2.0, and…

I've seen plenty of people at my job that have tried to spice up their research seminar slides with some chatGPT-generated images, the only time they don't suck is when someone uses the images as a joke. There's always something blatantly off, such that the output is only usable for informal seminars. On the other hand, the approach of having an LLM produce a python script, or write out a PPTX directly with placeholders and "vector" flowcharts etc, is now a very common approach for us.

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

#372

Post by coldtea »

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...

Market crashes like the dotcom bust, and countless companies stock rising to high heavens to crash a few months after IPO to shit say otherwise. VALinux was a poster child for investment... lol

Not to mention even a total shitshow from an obvious crackpot like Theranos got $1.2 billion total funding, and a 9B valuation. Or FTX.

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

#373

Post by coldtea »

sberens wrote: post #258
bnagh wrote: post #253

Earlier quoted context omitted.

They get in now because they want a high IPO exit. They care about the perception of the numbers, not about reality. If you think investment banks will catch them during the IPO: They have launched many overpriced IPOs in 1999/2000 and also want a high IPO price.

Investors are usually prevented from selling until 180 days after IPO

They have a dozen tricks to get around that... e.g.

"The passive funds holding trillions of dollars of 401(k)s and other investments are rushing to change their rules as the IPOs of SpaceX, OpenAI and Anthropic draw closer."

Those index providers are the same interest class with VCs. With such moves they inflate demand post-IPO (hoping it holds for 180+ days), but also allows them to lure buyers in private secondary market and offload that shit pre-IPO.

https://www.wsj.com/finance/stocks/stock-indexes-are-contort...

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

#375

Post by aprilthird2021 »

ricardobayes wrote: post #370
reilly3000 wrote: post #345

Earlier quoted context omitted.

I think the level of panic in CFO offices every where about AI cost explosion directionally validates that the spending is real.

There is no panic, it's misreporting and bad journalism. 2025 AI budgets were based on 2025 AI capabilities, and let's face it, LLMs only got acceptable in around November 2025. So it's natural usage went up and budgets didn't account for that.

There's absolutely someone in every big company except the biggest tech companies in the world looking at spend these days because of exactly what you said. The models are good now which means people use them a lot more which means money is flying out the door more than ever before (and the impact on the businesses hasn't shown up yet as you might notice in the earnings of any business that isn't a frontier AI company)

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

#376

Post by shtopointo »

Smart move from Anthropic.

They're the belle of the ball right now, everybody is talking about them, everybody wants to invest in them, so they can call the shots.

Then they'll have money in the bank for a long time no matter what happens – IPO, market downturn, etc.

Takes off lots of pressure so they can continue focusing on the product.

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

#377

Post by vidarh »

mitjam wrote: post #348
vidarh wrote: post #219

Earlier quoted context omitted.

$100/week will get you both a higher tier of Claude and significantly more tokens with GLM5.1 or Kimi, both of which are competitive in a decent harness (for Kimi that means their own CLI - it works well in that, but has a lot of quirks that requires special treatment). Just slightly more will get you all three.

Enterprise accounts pay per token.

Of all the companies I've done work for over the last couple of years, only one have used an enterprise account.

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

#378

Post by epolanski »

0xDEAFBEAD wrote: post #365
jillesvangurp wrote: post #314

Earlier quoted context omitted.

It gets better; most of their incoming requests don't actually require a frontier model to handle. There's a huge potential for future optimization in this space. Anthropic, OpenAI, Google and a few other companies are going to be well positioned to scale in the few years. A 65$ billion round to finance operations over the next few years isn't that controversial if you look at the growth and profit potential. I think…

Where's the moat though? What prevents a race to the bottom with competing AI providers, everyone trying to undercut one another?

I'm also thinking the same.

I have been trying Claude Code with DeepSeek 4 apis, and the experience is barely different. In fact the margin of error is so small that harness and prompting account for the most impact in output quality.

But, here's the catch: I spend barely more than a handful of dollars per day of regular usage. In fact DS4 via api is cheaper than Claude 100$ subscription.

I really think that very soon many will start realizing that the alternatives are extremely close in performance but dramatically different in pricing.

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

#379

Post by epolanski »

halamadrid wrote: post #137
onlyrealcuzzo wrote: post #65

Earlier quoted context omitted.

> But that isn't what it is anymore, it's a dumping ground. We got "dumped" Google and Facebook, so... Those probably made up for all the other "dumps". We also got "dumped" TSLA, which is meme-ing in the trillions at the moment. You can short Anthropic at IPO if you want...

Looking back it feels like GOOG, FB, TSLA etc. all went IPO at reasonable valuations. Retail & public investors did benefit long term and continuing to get higher valuations in public is not a small feat compared to a VC valuation. A trillion dollar valuation seemed so hard back in the day and now there are so many companies in that list. What's the next level? Is this just signs that $ is no longer the inflating at…

Facebook has been reasonable only in hindsight.

IPO was in the 50B $ valuation range, and at the time, there wasn't any hint it made any financial sense.

Of course, hindsight is hindsight, but for every Facebook there's been countless IPOs of tech companies shrinking their IPO valuations by 90% in the following years.

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

#380

Post by epolanski »

Aurornis wrote: post #63
cmiles8 wrote: post #12

Probably the bigger headline here is that they’ve blown past OpenAI in revenue and valuation, with OpenAI looking increasingly shaky and vulnerable.

Their valuations differ by about 13%. That's close enough that I wouldn't call it "blown past". Things change fast in this space. Anthropic had a big boost from having the premier coding model for a while, but GPT-5.5 has closed that gap at a time when a lot of Anthropic customers are looking for cheaper alternatives. Anthropic is coming off of a recent change to their enterprise billing that substantially changed th…

Sure, but people were claiming just 6-12 months ago that OpenAI had "brand moat" and "first mover advantage" that others would not have.

Considering that their models are de facto extremely close in performance you would think that these arguments would've held, but they clearly don't.

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