@penzlik

Anthropic reportedly told IPO investors Q3 revenue hit $16.8B. All of H1 was $16.3B. The $80.7B draft S-1 loss looks wild, but $72B is a non-cash charge on convertible notes. The real risk is $600B+ in compute commitments. Target val is around $2T. The $1.75T figure is SpaceX. BTC fell ~15% the week before SpaceX listed, but macro hit too, so a clean 25-30% call is a guess.

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