“The quarter-on-quarter growth rate for revenue has fallen to something like 47, 48% in these latest Q3 numbers, but the quarter-on-quarter growth in compute costs went up almost 80%. So at the moment, that's increasing more quickly than their revenue.”

…level of service because you just can't afford to pay for all those tokens? We'll have to wait and see. But Anthropic is leaning hard into the enterprise space, the idea that companies will pay for its products because they deliver some kind of measurable advantage that isn't otherwise available.

…quarter, it was $9.9 billion. So it's getting progressively larger, but also the revenue is expanding dramatically as well, which makes You think, oh, it's okay. But I mean, it seems as though these compute commitments that are coming down the line are going to absolutely balloon the compute costs.

It seemed as though when the IPO came, when the original filing came out, you know, there was a lot of, I would say, sighs of relief at the fact that their operating losses had come down so dramatically from last year. You know, it came down to something like $700 million negative operating loss.…

In the second quarter, they, on an operating level, had achieved a positive profit, I think, and that's now swung back to a loss. So, and then on an accounting basis, their loss is obviously huge because they have this sort of bizarre non-cash paper loss based on the value of securities and…

Yeah, it seems as though, I mean, they're going to go out and raise close to $100 billion in this IPO. That's not going to cut it. I don't think. I think they're going to need to raise a lot more unless their revenue can just absolutely skyrocket over the next year and be so much larger than the…