It will be interesting to see their S-1, to me the revenue increase isn't so much of interest vs their prediction as to when they will achieve profit.
The rise of the cheaper Chinese models (supported by the Chinese Governments push for domination in that area as well) and thus the pressure on Anthropic and OpenAI to lower their prices is what is worrying me.
Anthropic has been able to get a large portion of the "coding" companies (unless you're deeply integrated with Microsoft) and has been able to switch over users from OpenAI. However, this comes at a cost, their loss with the subscription models is huge and they can't easily switch to API cost as that would lead to an exodus of their user base (those that are doing AI engineering at least).
Beyond this use case nothing else has really materialized that is justifying the huge AI infrastructure cost and the corresponding debt allocation to finance it. I would be careful to invest even though I foresee that Anthropic will have a more sustainable share price growth that the ScamX, ahem SpaceX vaporware company!
Anthropic Expects to Match or Top SpaceX’s Record IPO Size, Bloomberg Reports
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