Comment by htrp

2 days ago

They delaying the ipo?

They can but they shouldn't. They have nearly $100b in cash and cash equivalents. But given the massive compute cost commitments, that clock keeps ticking down especially as the private equity and debt markets are closing on them day to day. And delaying sends a signal to the wider market which causes cloud providers and everyone downstream to get repriced lower, making the financial landscape even worse. The question is if Anthropic's situation will look better say three months from now. Given growth slowing and margin compression in Q3, that's a fat if.

  • This is very much aligned with Steve Eisman’s take: that it’s a terrible overvaluation but for Anthropic it is now or never.