$2 Trillion: Can Anthropic's Prospectus Support the Price?
Surging revenue, enormous losses and $518 billion in compute commitments appear together. An analysis of prospectus figures reported by the media: a $42 billion net loss is not the same amount of cash burned, and a $47 billion annualized run rate is not full-year revenue. How many years of success does $2 trillion already price in?
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