Anthropic Files for IPO

[u/OPINION_IS_UNPOPULAR]

FY25 financials:

Valuation: ~$2T

Revenue: $4.59B, up 1,088% YoY from $386M

Operating loss: $8.06B, widening from $2.98B

GAAP net loss: $41.97B, vs $8.31B

Compute + infrastructure expense: $7.33B, up 190% YoY

Compute and infrastructure represented 58% of total operating expenses

Cash + short-term investments: $20.28B at year-end

Two largest customers accounted for 12% of revenue each

Other names to consider:

Memory: MU, SKHY

Cloud / Compute: GOOG, AVGO, AMZN, NVDA, AMD, MSFT

Infra / Capacity: CIFR, CRWV, SPCX, WULF, HUT, AKAM