That S1 is gonna make for a fun read. It'll make Adam Neumann blush.
Because of unprofitability? ARR and growth are very high, and margins are either good or can soon become good.
Is the claim that coding agents can't be profitable?
Anthropic taps IPO lawyers as it races OpenAI to go public
121–130 of 322 posts
Re: Anthropic taps IPO lawyers as it races OpenAI to go public
#122Amodei is at the NYT Dealbook Summit today at 1:40 Eastern
Re: Anthropic taps IPO lawyers as it races OpenAI to go public
#123interesting HN is so bearish considering most of them spend more on AI daily than any other saas category
Citation needed?
I spend $0 on AI. My employer spends on it for me, but I have no idea how much nor how it compares to vast array of other SaaS my employer provides for me.
While I anecdotally know of many devs who do pay out of pocket for relatively expensive LLM services, they a minority compared to folks like me happy to leach off of free or employer-provided services.
I’m very excited to hopefully find out from public filings just how many individuals pay for Claude vs businesses.
Re: Anthropic taps IPO lawyers as it races OpenAI to go public
#124Earlier quoted context omitted.
Dario Amodei gives of strong Adam Neumann vibes. He claimed "AI will replace 90% of developers within 6 months" about a year ago...
It was "writing 90% of the code", which seems to be pretty accurate, if not conservative, for those keeping up with the latest tools.
Yes, those using the tools use the tools, but I don't really see those developers absolutely outpacing the rest of developers who do it the old fashioned way still.
Re: Anthropic taps IPO lawyers as it races OpenAI to go public
#125Honestly these IPOs are likely to kill the market. Once the necessary disclosures are out, and the worse-case math people are assuming turns out to have been way more optimistic than the actual truth, the entire market is likely crashing since the money is so spread out. So far there has been zero good news from an investment perspective out of LLM centered companies outside of what are ultimately just complex financial engineered investments.
Re: Anthropic taps IPO lawyers as it races OpenAI to go public
#126Earlier quoted context omitted.
You haven’t actually looked at their fundamentals. They’re profitable serving current models including training costs and are only losing money on future RD training, but if you project future revenue growth on future generations of models you get a clear path to profitability. They charge higher costs than OpenAI and have faster growing API demand. They have great margins compared to the rest of the industry on infe…
> They’re profitable serving current models including training costs I hear this a lot, do you have a good source (apart from their CEO saying it in an interview). I might have more faith in him but checks notes , it's late 2025 and AI is not writing all our code yet (amongst other mental things he's said).
The best I kind is this tech crunch article, which appears to be referencing an article from the information that is pay walled.
> The Information reports that Anthropic expects to generate as much as $70 billion in revenue and $17 billion in cash flow in 2028. The growth projections are fueled by rapid adoption of Anthropic’s business products, a person with knowledge of the company’s financials said.
> That said, the company expects its gross profit margin — which measures a company’s profitability after accounting for direct costs associated with producing goods and services — to reach 50% this year and 77% in 2028, up from negative 94% last year, per The Information.
https://techcrunch.com/2025/11/04/anthropic-expects-b2b-dema...
Re: Anthropic taps IPO lawyers as it races OpenAI to go public
#127So would a $300B Anthropic get included in the SP500?
Re: Anthropic taps IPO lawyers as it races OpenAI to go public
#128It's interesting that Amazon don't appear interested in acquiring Anthropic, which would have seemed like somewhat of a natural fit given that they are already partnered, Anthropic have apparently optimized (or at least adapted) for Trainium, and Amazon don't have their own frontier model. It seems that Amazon are playing this much like Microsoft - seeing themselves are more of a cloud provider, happy to serve anyone…
They're likely just waiting out the eventual crash and waiting to buy at the resulting fire sale. Microsoft has done a very good job of investing in the space enough to see a potentially lucrative pay out while managing the risk enough to not be sunk if it doesn't pan out.
Re: Anthropic taps IPO lawyers as it races OpenAI to go public
#129That S1 is gonna make for a fun read. It'll make Adam Neumann blush.
SoftBank is just waiting to invest in this …
Re: Anthropic taps IPO lawyers as it races OpenAI to go public
#130I love claude, but looking at google it seems like it will just be a matter of time before Google/Gemini will be a better product. Just looking at how much Google have improved their AI game the last couple months. I'm putting my money on google, I assume the reason they are doing an IPO right now is to be able to cash in on the investment before google surpasses them. It's a hot take, I know :D
Have you tried Opus 4.5?
It's an absolute workhorse.
It is so proactive in fixing blockers - 90% of the time for me, choosing the right path forward.