The hyping of Anthropic’s IPO

Substack · Watch/Read

• Gary Marcus highlights the “hyping” of Anthropic’s upcoming IPO, noting a surge of positive financial projections and leaks despite the company being in an SEC-monitored “quiet period.”
• He cites specific claims, including a Reuters report projecting $190-200 billion in 2028 revenue (from unnamed sources and “undisclosed math”), leaked Q2 financial details to Bloomberg, and claims from podcasters like Gavin Baker (“making money on every token”) and Dwarkesh Patel (projecting $100-150B revenue for the current year).
• Marcus frames his article as a dissection of these claims, aiming to “explain what’s been left out,” implicitly warning readers to be skeptical of the leaked figures and bullish projections surrounding Anthropic’s IPO.