Comment by simoncion

The fun thing about this is even if you ignore the SAFE & etc fair value changes, Anthropic still lost ~8 billion in 1H 2026.

Given that their Q3 sales numbers didn't grow by much, and that if they can't get Congress to both order a halt to the production of new LLM-based tools and either tightly restrict "open weights" models or make them illegal [0], they're going to have the dual squeeze of the ever-increasing R&D costs needed to build the next big LLM-based tool and ever-reducing revenue as more and more businesses notice that they get decent results with something they can host on-prem... and the only cost to the business is hardware that they may or may not already have and the power that they're likely to be already paying for.

[0] ...illegal because "China Bad And Scary", naturally...