Comment by techblueberry
3 days ago
‘Growth has slowed" is technically true but misleading. Q2 to Q3 still went from $11.5bn to $16.8bn. And at those levels, it’s not wildly unexpected that it has to slow down.’
The growth slowdown is decidedly unexpected. The market priced in a $2T valuation that assumed it wouldn’t slow down.
https://www.reuters.com/business/finance/investors-temper-an...
That article is a lot better than the one from FT.
But it does not say anything about the slowdown being unexpected. What it does say is that four unnamed people were disappointed by the slower quarterly growth. If four people had an unrealistic expectation that revenue should double every quarter and were disappointed with only 45% growth for a firm already at 25% of Nvidia’s revenue, that does not mean that the lower growth rate quarter over quarter is generally unexpected.
And Reuters also said that it is part of a broad tech sell-off underway, which also pushes valuations down.
For the record, I'm not pro-Anthropic and, I would not recommend investing in them or any fresh IPO, for that matter, since heavily hyped IPOs with high valuations almost always do worse after the initial pop-off.