I analyzed Anthropic’s draft IPO filing and argued that we are in a brief AI compute subsidy era, so developers should build now.
Revenue in H1 2026 was $16.3B.
Compute spending in H1 2026 was ~ $9B.
Cloud commitments are projected at ~ $450B over the next 7–10 years.
Net loss reported was $80.7B.
GPU rental costs could reach up to $86B.
A $200 plan can generate thousands of dollars of usage at API prices.