Comment by dsdsfaa

Cut the crap.

The value of the firm's operating assets = EBIT(1-t) - Reinvestment

You (Anthropic) want that sky-high valuation? Accept reinvestment is part of the equation.

If they decide to stop reinvesting, then they are as good as dead.

Moreover, they clearly are not re-investing cash flows from operations. Why do you think they are continually raising money? Lmao.