A different picture if you include Q3 data in their chart.
https://x.com/billylo/status/2114730642881544285?s=20
Q3 data from their pre-IPO investor roadshow.
Dealroom / Wall Street Journal on Q3 data https://dealroom.co/news/164610-anthropics-draft-s-1-reveals...
Bloomberg reported the same data. https://qz.com/anthropic-q3-revenue-adjusted-profit-ipo-inve...
Seems roughly the same story to me. A bit more competition but good growth and healthy multiple of compute.
That link isn't working for me.
fixed. https://x.com/billylo/status/2114730642881544285?s=20