Anthropic pulled in $11.5 billion in Q2. That's billion with a b. The Claude chatbot maker quadrupled its revenue in three months while you were asking ChatGPT to write your cover letter.
The company now prepares for an IPO. Translation: they're about to let retail traders buy shares at the top so insiders can finally cash out and buy that third house in Atherton. You'll get the privilege of holding bags while venture capitalists who got in at a $500 million valuation retire to Montana.
Eleven point five billion dollars. In one quarter. For a chatbot. A chatbot that sometimes hallucinates legal citations and occasionally tells you it can't help with your request because you asked it to summarize a PDF in the wrong tone. Revolutionary technology. The future of work. Worth more than the GDP of Monaco.
The revenue jump signals rapid growth. Rapid growth signals a blockbuster IPO. A blockbuster IPO signals your brother-in-law texting you at 9:47 PM asking if he should buy shares on margin because some guy on YouTube said AI is going to replace every job except podcast host.
Claude competed with ChatGPT by being slightly better at not saying unhinged things. That's the pitch. We're less likely to tell your customers to commit felonies. Investors ate it up. Wrote checks with more zeros than a Python tutorial.
Anthropic will go public. The stock will moon. Retail traders will pile in at $347 per share. Six months later it'll trade at $89 and some CNBC anchor will ask what went wrong while showing a chart that looks like the Matterhorn in reverse.
But sure, this time is different.
Photo by Brecht Corbeel on Unsplash
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