It doesn’t say what percentage of the total shares that would be.
It's frustrating they can't be transparent that they're even doing it, let alone why they're doing it.
They still charge you full price and don't offer any quota resets even though you're getting less value for money while you're working with a nerfed model.
You have psychosis my friend. They don't nerf the models.
Software > hardware is a hell of a pivot, and Alphabet and Meta already do hardware. Unless they are building a huge IP moat and have proven themselves competitive with hardware, I don't see the rosy future.
That's my understanding of things at least.
I'm sure there was a point in time when everyone thought horses had a great moat.
The software engineers are also the most likely to pivot to local inference. I know several engineers playing around with local as a hobby. After the first bill comes in that means nobody gets the Christmas bonus this year, they'll resolve the issue and start figuring out how to adapt their workflow.
And somehow I doubt that they'll need frontier for the majority of customers who just need crud and libraries hooked up. Yeah it won't be as easy as with frontier but it just means the party is over and it's time to get back to work.
So ... Maybe security audits need frontier ... And they can pass the price increase onto their customers, I presume, easily enough.
I'm not convinced thats sufficient to pay off the bill that it took to get frontier in the first place.
[And so far, I haven't met a single software engineering customer, although surely they have to exist somewhere, who was actually comfortable vibe coding their crown jewels or even anything vaguely auxiliary. Please engineer ask the magic box to generate code for us. I think they'll be just as happy checking a box they says 'save money by using agentic development' if they box is hooked up to some future price gouging frontier or hypothetically cheaper local setup]
finally, a number analysts can obsess about until the IPO launches
https://www.sec.gov/Archives/edgar/data/2130357/000162828026...
Sure, he's putting aside the possibility of being a 10 trillionaire in exchange for merely being a billionaire and then maybe being a 100 billionaire later. But, I mean at some point there's diminishing returns on having a mountain of cash that would make a dragon blush.
EDIT. Despite evidence to the contrary, I remain bearish on frontier models. However, unless I'm missing something the evidence also shows that Dario et al remain bullish. Except they're taking the reasonable route of also having a giant pile of money.
Unless of course I'm missing something.
And yes, of course, the scam is almost done. Time to go the bank $$$.
Americans want to invest how they want. They want to strike it big and the way the world works is most of them won't. I think we need to be at peace with that and maybe adjust the tax code some.
"The proposed offering consists of 825,000,000 shares of Class A common stock. Of these, 801,351,354 shares are being offered by Anthropic and 23,648,646 shares are being offered by certain existing stockholders. Anthropic will not receive any proceeds from the sale of shares by the selling stockholders."
WTF - so basically insiders / investors are dumping their stock on dumb money retail investors / our 401ks and the company is getting NOTHING?
Maybe founders and employees aren't allowed to sell yet?
The company is making a lot of money from the 800M shares they do own that they are selling.
All these valuations seem nuts to me, but who knows. Maybe there's some reason big enterprise will keep shoveling money into the Anthropic furnace to avoid downloading GLM.
Don’t do investment based on a series of heuristics, the actual details are what matters.
Also: Annualized Run Rate isn’t a standard metric. It’s a bullshit metric that doesn’t mean anything without the actual definition the company is using. It’s what startups use to impress gullible investors, not something a serious company relies upon…
As someone who uses a Claude enterprise plan at work and DeepSeek on my personal time, I can't imagine why my employer chooses to pay for Claude Code and I assume the accountants will wake up eventually.
But again, who knows? Oracle is still making money somehow.
I would be curious to know who they are. But says something about this IPO. If I hold stock for what I think it's a good company, I wouldn't be selling on day 0
https://www.sec.gov/Archives/edgar/data/2130357/000162828026...