Anthropic’s IPO Leak, OpenAI’s Dots vs. Meta’s Muse, Visual Turing Test

Anthropic's leaked S-1 shows $518B in compute commitments against $4.6B revenue, with customer concentration risks that could ripple through an AI-dependent stock market.

• Anthropic's numbers leak: Reuters' S-1 scoop shows $400M revenue in 2024 growing to $4.6B in 2025, but $518B in compute commitments over a decade, 80% non-cancelable.
• Customer concentration risk: Nearly 25% of Anthropic's 2025 revenue came from just two customers, many without long-term contract lock-ins.

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