Anthropic is worth 183,000 million even though he invoices 5,000 million a year. Or it is the business of the century, or it is the madness of the century

Anthropic has just closed A financing round of 13,000 million dollars that values ​​it in 183,000 million. The figure sounds like madness when we put it in context: the company invoices 5,000 million a year.

The figures. Anthropic is valued 36 times. Google, to compare, quotes 6 times. Apple at 8. Microsoft to 14. They are mature companies in front of a startup, but none remotely approaches this multiple.

The round F It has been led by ICONIQ Capital, with Fidelity and Lightspeed as co-investors. Heavyweights such as Blackrock, the sovereign background of Qatar and Ontario Teachers’ Pension Plan have participated.

What has happened. In just eight months, Anthropic has multiplied its income by five: from 1,000 million to 5,000 million in August (annualized). It is one of the fastest growth in the history of technology.

Claude Codeits programmers tool, generates 500 million in annualized revenues. It has multiplied its use in three months since its complete launch in May.

The context. The AI ​​career has become a war of valuations disconnected from classical financial reality.

• OpenAI negotiates an assessment of 500,000 million.
• XAI of Musk looks for 75,000 million.

Investors are betting Billions to these companies will dominate the future. Anthropic serves 300,000 business clients. Its large accounts (those that pay more than $ 100,000 a year) have multiplied by seven in twelve months.

Yes, but. Developing elite AI models is very expensive. Anthropic depends on Amazon and Google for his computational infrastructure, and costs him billions annually. The costs are not going down, they are accelerating.

Sam Altman, CEO of Openai, has said that his company will need to invest billions of dollars. The generative AI business remains structurally deficient for almost all participants. Nvidia always wins.

Between bambalins. Dario Amodei, CEO of Anthropic, has admitted in An internal memo that is not “excited” to accept money from sovereign funds of dictatorial governments. But says It is difficult to direct a business excluding “bad investors.”

The company has promised to use 13,000 million to expand capacity, deepen international security and expansion research. It is also developing specific products by industry.

The end of a dream. A few months ago We speculated that Apple could buy Anthropic to accelerate your entry into AI. With an assessment of 183,000 million, that option has been buried: it would be 60 times more expensive than Beats, Apple’s greatest acquisition in its history.

Not even Tim Cook (who He was open to check) With 150,000 million in cash available, you can justify such a check before your shareholders.

The big question. Are we facing the birth of the new technological giants or the greatest bubble from the Puntocom? With assessments that multiply by 36 income, the margin of error is non -existent.

Investors are betting on Anthropic and their rivals will not only dominate AI, but the AI ​​will transform the entire global economy.

• If they are right, 183,000 million will seem cheap.
• If they are wrong, it will be a historical disaster.

Outstanding image | Anthropic, Xataka

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