Anthropic files for potentially record-breaking stock market valuation in key test for AI industry
www.theguardian.com
Market debut of firm behind Claude chatbot will be one of largest in US history, a test of AI boom’s financial viability

Market debut of AI company behind Claude chatbot will be one of largest in US history, a test of its financial viability

Anthropic has publicly filed for a stock market listing, one of the largest debuts in history. The company’s float on the US market is likely to be a high-water mark in the multitrillion-dollar AI boom and a test of its financial viability.

Analysts and investors have valued the San Francisco-based company, founded in 2021, at more than $1.5tn. The company, which will will list under the symbol ANT, confidentially filed with US financial regulators for an initial public offering in June.

  • humanspiral@lemmy.ca
    7·
    2 days ago

    While (probably) not technical fraud, there is massive accounting BS in their financial reporting. $3.6B in Sales and marketing expenses has $400B+ hidden through capitalizing free services as “customer acquisition”, but rest of it is commissions paid to GOOG/AMZN partners, and shouldn’t even be part of revenue. They also capitalize training/fine tuning costs even though 1 month release schedule for model versions make previous model version worthless.

    So the big lies are “operational profit” and revenue is greater than compute costs. They will have to drop Q3 results officially before IPO, and reason they didn’t is their Q2 apparent revenue to compute cost ratio lie, also hid that they got $2.5B free rental worth from xAI as part of their circular fraud deal to rent from them temporarily at absurdly inflated prices.

    • Bakkoda@lemmy.world
      3·
      2 days ago

      They are simply going to be the first. The first to get barely vetted before the IPO is approved. The first to have any circumstances waived. It won’t matter how bad the financials are because it’s already too late. The bubble is leaking but it’s still inflatable so just keep pumping because the only people left with enough money to keep it afloat are the only ones who are gonna make money when it crashes.

      • humanspiral@lemmy.ca
        3·
        2 days ago

        SpaceX was first. Even bigger fraud with circumstances waived to get in early on NASDAQ indexes. It’s a much larger overspending AI money pit, and still highly inflated.