These numbers seem made up at times / difficult to comprehend what they expect is happening ...
People said the same about Open AI in 2023, only valued at $30 billion at the time, and then seemingly overnight Chat GPT become a major commercial product rivaling Google. Or Tesla valuations in 2019. It went from a niche brand to Teslas everywhere after Covid. These VCs are not as irrational as commonly assumed. They know if a product gains critical mass , it can become everything.
It's still bleeding money with no profitability in sight, niche product or household name
same again for Amazon, Tesla, Uber and others. Then they began making billions. Anthropic is not a niche anymore though. Same for Chat GPT.