why did they raise 3 days ago? What's the benefit of doing this instead of going public right away? If it's just cash to pay for GPUs, can't they issue bonds or something?
Anthropic confidentially submits draft S-1 to the SEC
61–70 of 476 posts
Re: Anthropic confidentially submits draft S-1 to the SEC
#62Re: Anthropic confidentially submits draft S-1 to the SEC
#63With SpaceX, OpenAI, and Anthropic, we're likely to see 3 of the largest IPOs ever (by a wide margin) this year. Will existing institutional investors trim other positions to allocate a lot of capital for these mega listings or is this not a concern?
At least all the index funds are obligated to, right?
But only the amount the company floats for many index funds. So in the case of SpaceX, they are only floating 5% of the company. So the number of shares something like VTI has to buy is much smaller than the total market cap (5% of it).
Re: Anthropic confidentially submits draft S-1 to the SEC
#64If OpenAI and Anthropic eventually become public companies with trillion-dollar valuations, it will be interesting to see if their company ethos remains the same. With that much purchasing power, it's very tempting to gobble up competitors and raise prices.
The question is not "if" they will lose their ethos but "how long will it take".
If "Open AI" was their ethos, it was lost immediately. I'm not sure what the ethos of Anthropic is.
Re: Anthropic confidentially submits draft S-1 to the SEC
#65After years of companies refusing to go public (looking at you Stripe), it's almost refreshing to see a hyped tech go actually IPO.
Re: Anthropic confidentially submits draft S-1 to the SEC
#66Re: Anthropic confidentially submits draft S-1 to the SEC
#67why did they raise 3 days ago? What's the benefit of doing this instead of going public right away? If it's just cash to pay for GPUs, can't they issue bonds or something?
Pump up the valuation baby.
Price setting.
Re: Anthropic confidentially submits draft S-1 to the SEC
#68Re: Anthropic confidentially submits draft S-1 to the SEC
#69Earlier quoted context omitted.
That's how you know it's purely marketing and they're not actually going public.
Given how often these get leaked (see Palantir + SpaceX) and the cost of preparation, why would you ever file an S-1 unless you were serious?
Because you want another funding round but you will get it only if investors think they're going to get their money back soon.
Re: Anthropic confidentially submits draft S-1 to the SEC
#70If OpenAI and Anthropic eventually become public companies with trillion-dollar valuations, it will be interesting to see if their company ethos remains the same. With that much purchasing power, it's very tempting to gobble up competitors and raise prices.
IPO won't lose their ethos. Competition out from their duopoly will.
Who else right now is making competing models that are roughly as capable? Now factor in hardware availability / future delivery contracts and capital requirements for building datacenters and running new training. If you're trying to compete and lease all that with VC money or loans, good luck actually competing.