Anthropic估值计算方式：2025年亏损的-50倍
Anthropic的IPO文件泄露，显示其亏损越多估值越高，这种反常商业模式值得关注。
Anthropic提交的IPO文件显示，公司2025年净亏损达420亿美元，计划未来一年在云计算、计算和基础设施上支出5180亿美元。公司收入在2025年增长了12倍，达到近46亿美元，但运营亏损超过80亿美元。文件首次详细披露了Anthropic过去一年的快速增长情况。
Anthropic’s proposed valuation is easily calculated, as -50 times 2025 losses. The more they lose, the more they win! zerohedge @zerohedge Anthropic IPO prospectus leaked to Reuters Anthropic reported a net loss of $42 billion in 2025, and plans to spend $518 billion on cloud, computing and infrastructure obligations in coming year, according to the prospectus. The prospectus details how the company has grown sharply in the last year — while also posting wider losses. Revenue grew 12-fold in 2025 to nearly $4.6 billion, even as the company lost more than $8 billion on an operating basis, excluding writedowns of various liabilities mostly tied to previous fundraising, according to the documents, reported here for the first time. reuters.com/business/finan… 🔗 View Quoted Tweet 💬 3 🔄 5 ❤️ 30 👀 4259 📊 5 ⚡
