Anthropic raises $13B Series F

These numbers seem made up at times / difficult to comprehend what they expect is happening ...

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.

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.