Anthropic raises $13B Series F

This is the fastest-growing company by revenue, jumping from $1B to $3B in just five months. Hitting $10B is only a matter of time, which would put its valuation at a reasonable ~18x sales multiple. It doesn't even matter where we are in the AI hype cycle - AI adoption will keep increasing, it's not even a question at this point.

From a technical perspective, they manage to attract top talent - Google / OpenAI lose a lot of good people to Anthropic. This is important since there are few people who can transform a business (e.g., the guy who built Claude Code). Being attractive for top talent means you're more likely stumble upon them.

My baby grew from 9 pounds to 18 pounds in a 3 months! Hitting 10000 lbs is only a matter of time.

I thought ~20x or so was a good baseline earnings multiple. I have no idea what makes sense as a revenue multiple but I bet it would be a lot lower than that.

Edit: After looking it up, normal P/Sales ratios are on the order of about 1. They vary from like .2 to 8 depending on industry.

You should check a few software companies that are publicly traded. Figma for example is at P/S ~38 multiple currently. Google at 6.8. If Anthropic would've done an IPO today they would probably be at ~100 given where Figma is.

OK I will remind you how stupid your comment was when they reach $10B in revenue next year.

> they manage to attract top talent

I do think this is important. Many of the best researchers are also religious AGIists and Anthropic is the most welcoming to them. This is a field where the competence of researchers really matters.

You're comparing the value of equity to firm earnings? Lol. I don't really bother calling out most financial stuff on here since I can't be bothered but come on.

Its not internally consistent, at all.

No, I'm calling out the person who is comparing those things.