Featured · Deals
Anthropic let rivals pay to copy Claude, then locked them out before a $2 trillion IPO
Anthropic told pre-IPO investors that distillation, rival labs paying to copy Claude's behavior, made up 5 to 7 percent of revenue before it curtailed the trade in Q3. Held at that share, the line runs near $4 billion a year, a cost the pitch for a listing above $2 trillion had never carried.
· 3 min read
