9 November 2026 · 5 slides
Photo: via Instagram
2 · What happened
The safety lab filed to go public as “ANT”.
On 26 October Anthropic filed to list on Nasdaq. Half-year revenue: US$16.3 billion, from US$1.2 billion a year earlier. Net loss: US$80.7 billion, most of it accounting charges on convertible notes.
Photo: Stanford Digital Economy Lab
3 · The number
US$542 billion of compute commitments, against US$16 billion of half-year revenue
An amended filing lists about US$895 billion of committed spend, “substantially all” for compute. Valuation talk slid from US$2 trillion to about US$1.2 trillion within a month.
Photo: source
4 · Quote
“I think he's completely deluded.”
Yann LeCun on Dario Amodei, Fortune, 1 October 2026
Photo: time.com
5 · Bottom line
Don't marry one model.
A listed Anthropic answers to Wall Street every quarter, and prices follow. Build so you can switch providers in a week: keep your prompts, data and tests yours, not theirs.
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