00:00:00
Anthropic was literally counted out of
00:00:02
the game last year and they've kicked
00:00:03
OpenAI's ass over the last 90 days. Bam,
00:00:06
you have the largest revenue explosion
00:00:08
in the history of technology. So, you
00:00:10
have to ask what's going on and what's
00:00:12
the big so what? The first thing for me
00:00:14
is that model and product capability
00:00:16
just hit this threshold near AGI,
00:00:18
whatever the hell you want to call it.
00:00:20
And everybody like Altimter said, "Damn,
00:00:22
this is so good. I have to have it. This
00:00:25
is no longer about my IT budget. is
00:00:27
about labor augmentation and labor
00:00:29
replacement. Turns out that the TAM for
00:00:32
intelligence is radically different than
00:00:34
anything that we've seen before. And I
00:00:36
think the best example of this, right,
00:00:38
this is millions of self-interested
00:00:41
parties, consumers, enterprises, a
00:00:44
thousand now over a million dollars.
00:00:47
Right? It's not that there was some
00:00:48
great go to market anthropic that all of
00:00:50
a sudden, you know, they snuck up and
00:00:52
blew everybody away. No, it was
00:00:54
companies demanding the product. They're
00:00:56
getting throttled on the product. Why?
00:00:57
Because it's so good. It makes them
00:00:59
better at their business. We knew
00:01:01
intelligence was going to scale on the
00:01:03
exponential. The question was whether
00:01:05
revenue will scale on the exponential.
00:01:07
And that's what we're seeing. And
00:01:08
remember, they're doing this with only 1
00:01:11
and a half to two gawatts of compute.
00:01:14
And the models are only getting better.
00:01:15
So I think when you look out toward the
00:01:17
end of the year, I would not be shocked
00:01:20
if you see Anthropic exiting this year
00:01:23
at 80 to hundred billion in revenue. No.
