The AI start-up is continuing with plans to list before the US Thanksgiving holiday this month, according to multiple investors in the group
someone seems a bit rushed
“It’s just one milestone along the way,” said one early Anthropic backer. “They should treat it like every other fundraise: a means to an end.”
I certainly hope they mean for it to end
Anthropic released its financial data for the third quarter earlier this week, revealing revenue growth that had slowed but still jumped almost 50 per cent to around $17bn.
I like how this doesn’t point out that the same data showed their compute costs have doubled
means to an end.”
The end is “get enough money for just one more training run bro” both because they hope to reach recursive self improvement magic AGI God in the next training run and because their entire value proposition is centered around releasing “better” models.
They don’t have a choice, their alternative funding sources have dried up. It’s IPO or die, and I’m thinking it will be both.
It’ll hasten the bubble burst, so I’m all for it.
IPO is just to decide how many months or years they’ll survive for and to pass some of the bag to everyday people.
They are balancing the needs of getting bagholders to buy in in the first place (which means keeping the IPO valuation lower) and continuing to project confidence and hype.
Anthropic’s backers are hopeful that its IPO will be propelled by so-called forced buyers, including index funds and large asset managers, which do not currently own any of the stock but will in effect be obliged to do so shortly after the company is public.
Oof
there we go, that was thier plan all along.
Isn’t their debt rating basically junk bind status? If so, they won’t be included in any pension funds
“our IPO will be supported by the people we are forcing to buy it’ is definitely a vote of confidence and not at all ominous
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do IPOs go automatically straight into index funds? i thought they had to be added upon approval
It depends on the index! “Equal weight in the largest five banks in Lithuania” is an index. “500 large American companies chosen from a list of candidates by a selection committee in NYCt” is an index. “Every company on the Tokyo Stock Exchange” is an index.
Typically yes. But when there’s shenanigans involved….
¯\_(ツ)_/¯
I thought some would only do it after a year or so too to prevent these types of shenanigans too.
Sharing a gem from r/BetterOffline
“The next Google is dancing naked in front of you. If you can’t see the value of it, you don’t deserve to make money.” For the first and hopefully last time: Dario Amodei, please put your willy away
ROFL Wow, the desperation is so…Amusing to me because this absolute stock market shock and their insistence on doing an IPO, there is no way they are even worth 1.25tn because they can’t even turn a sustainable profit. It’s so cute that these weird ass shills are trying this still despite all the signs pointing to failure. I hope it hurts and burns them, I hope all LLM companies get absolutely blasted into irrelevance from which they cannot recover.
they seem more desperate than even sam altman with Open AI.
I agree, while Sam “Imma gonna steal that RAM” Altman is pretty desperate, he is acting with weird restraint. Anthropic’s CEO is doing it completely wrong though (not that I would’ve ever granted him any of my consent).
Time to socialize the potential losses when the bubble bursts.
