Tag: AI compute

Anthropic Made $4.6 Billion Last Year. It Lost $8 Billion Running the Business.

Anthropic has built one of the fastest-growing businesses in technology. The problem is that running it currently costs considerably more than the business makes. The company behind Claude generated approximately $4.6 billion in revenue in 2025, up from just $386 million the previous year. That is extraordinary growth for a company founded in 2021 and […]

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AI’s Biggest Safety Warning Just Became a Semiconductor Story

The artificial intelligence industry spent years convincing investors that the biggest constraint on AI was compute. On Monday, it introduced a much stranger possibility: what if the companies building the most advanced systems decide that they need less speed? That question hit the semiconductor market hard. The Philadelphia Semiconductor Index fell 5.9% on September 14, […]

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AI Safety Just Became a Market Variable.

AI safety used to sit in a separate box from the AI investment thesis. One conversation was about alignment, misuse, regulation and existential risk. The other was about GPUs, cloud revenue, data centers and how many billions of dollars the hyperscalers could spend before somebody finally asked for a receipt. On September 14, those boxes […]

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