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Anthropic’s IPO has a $450 billion compute problem

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It’s spooky season, and Anthropic’s leaked S-1 read a little like a jump scare. The draft revealed that the company is on the hook for $450 billion in compute over the next 7 to 10 years. 😳 Revenue is soaring, but much of it is already promised to compute bills Anthropic has to pay whether it uses the capacity or not, with $750 billion more in deals still on the table.
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