Ryan Sean Adams

Anthropics extraordinary rise from December 2022, 10 million in revenue all the way to May 2026.

This is annualized revenue.

We went from 10 million to 45 billion on this chart.

This is log scale.

I just saw, what's it, was it last week or the week before, you know, anthropic was basically out of compute and, um,

x ai had over provisioned elon bought made all these data centers but their model wasn't as used as anthropic and so anthropic caught a deal cut a deal with xai to just tap into their their hyperscale resources so they have the compute so there's a lot of um allocation let's say to the leading apps where the demand is actually taking place interesting that's really interesting um

The demand is there because the models and their capabilities just keep on getting better.

I'll tell you just my own experience.

So a year ago at this time, I was probably subscribed to maybe two models, $20 a month.

So my spend was $40 a month, let's say.

Now you fast forward to today, over the past month or so, I probably averaged about...

50 bucks a day, maybe in terms of token model spend.

And that's just because the tokens have become more valuable for the research and work output that I'm producing.

And so my demand has continued to ramp up and it will continue to ramp up until they stop being as useful, or I suppose they get a lot cheaper.

Yeah.

So I'm sure that's just a microcosm of what every person is doing, every company is doing.

And it all depends on how useful these AI tokens actually continue to be.

How similar is this in your mind to kind of, you know, the way the capital flows to the way dot com worked or like how similar versus different is it?

Maybe the AI boom versus the dot com boom.

I mean, as you say that, as we're looking at the numbers here, it seems like the answer to that question is like, yes, of course we're going to overbuild.