Downtown Josh Brown

I just want to show you OpenAI versus Anthropic.

just on those metrics that I rattled off.

We won't go through them again.

But the key one that I want you to look at is that 95% of ChatGPT users, of which there are 900 million weekly, are free.

Anthropic, 80% of their users are enterprise, including eight of the top 10 companies in the world.

They have a thousand companies paying them more than a million dollars a year.

These are very different businesses.

I told you OpenAI is losing $1.22 for every dollar earned.

That is not the case at Anthropic.

Next chart.

This is the revenue run rate for both.

And you can see a clear acceleration of Anthropic versus OpenAI since the start of this year.

Like the curve just went plaid.

Which one is more traditional for an enterprise software company?

They were able to raise $60 billion with their eyes closed last week.

Nobody even heard a word about it.

The first quarter operating profit in Anthropic happened in Q2 of this year.

$559 million was what was reported.

You can't find anything like that.

They were at an $87 million run rate two years earlier.