How much Anthropic and Cursor spend on Amazon Web Services

The buried lede:

Anthropic: "$2.66 billion on compute on an estimated $2.55 billion in revenue"

Cursor: "bills more than doubled from $6.2 million in May 2025 to $12.6 million in June 2025"

Clickthrough if you want the analysis and caveats

I could find an ARR for Cursor of $500M. Why do they they in this article that Cursor is loosing with this spending number ?

Ed's mentioned ARR in previous articles and it's not a "generally accepted accounting principle". They cherry pick the highest monthly revenue number and multiply that by 12, but that's not their actual annual revenue.

Eh, when you have a company that’s growing, picking the highest and annualizing it is sensible. If we had a mature company with highly seasonal revenue it would be dishonest.

I mean I think there are instances where OpenAI's revenue is seasonal. Lots of students using it during the school year and cancelling it during summer.

I think you missed the forest for the trees. I am sure the student population has some dropoff during summer months but the point is that for businesses that a growing month over month which most of these have since creation, you take the highest number (latest) and annualize it.

I am also willing to bet that the student dropoff is not pronounced. I am more thinking of a business that sells beach umbrellas, they make a lot of sales in the summer months and then next to nothing in the winter months. That would be dishonest.