YHK - yet another hacker news clone

I hope that free open weight models prosper and get spread far and wide. I've started actively talking to people I know who pay for Anthropic subscriptions to make sure they know they're funding a company that actively attacks open weights and sees free models as a danger to society.

Paywalled

Seems as if major investors saw this coming already, so not that surprising if you have been paying attention.

> Major Investors Are Skeptical Anthropic IPO Can Achieve $1.5T Valuation (https://news.ycombinator.com/item?id=50386597)

> Anthropic will seek a valuation of around $1.33 trillion in its initial public offering [...]

That still feels wildly overvalued. SpaceX went public at a $1.77 trillion valuation, and its P/E ratio is already a whopping 617.7. Anthropic doesn't even own data centers, rockets, a social media platform, or a profitable internet service.

CNBC version: https://www.cnbc.com/2026/11/10/anthropic-sets-price-range-o... (no paywall)

lol. Lmao, even.

I offer $3.50. Take it or leave it.

Do they have to threaten the us economy every week by forcing citizens to be exit liquidity for their investors? It's not cute. People are getting sick of it.

Is this value finally locked in? Can they still change it?

Rough timing for them with everything dropping and everyone spooked

Anthropic sells the most intelligent intelligence, and they have secured enough compute to build even smarter intelligence. There is the possibility of a chain reaction (AI trains better AI which trains better AI) that ANT leads. This valuation is justified simply by Claude being marginally smarter than its competitors and enterprise customers paying for this advantage.

This is the ANT bet:

1. With current technology, using more computer resources will result in a measurably smarter model.

2. ANT will have more compute resources than anyone else for the next 5 years.

3. The intelligence gap provides meaningful competitive advantage.

4. The regulatory, monetary, or military environments don’t stop ANT from doing its work.

1.3T for what?

What assets do they have? A bunch of models that at best are 3 months before the competition? They barely own any hardware, everything they use is rented at a very high price.

Know how? Dont make me laugh. Google and deepseek are doing the innovations. When did Anthropic published a cool idea?

Infrastructure? They dont own any, and since their training and inference is notoriously inefficient they are bleeding money to data center providers.

Customers? Their customer list is shrinking by the day. Companies are reducing their token budget. Some completely moving to on-prem.

Mindshare? Your grandma probably knows what chatgpt is but claude? Also everyone on the left and right hate Anthropic.

Exactly what here is worth this much money??

I personally will pull out of any index fund that includes openai and anthropic. Let someone else loose their savings.

Good for them. A bit lower than initially estimated, yet still quite north to what they bring to the table today. Is there a market consensus on what their current and future moats are? Models alone will not do it. Ecosystem is can be rivaled ("opus make clone of claude.ai"). What else?

I just don't see how they don't get that valuation.

Not because it's sensible (it isn't), but because of how much hype is behind it, which is all that matters nowadays.

This looks like a "winner takes all" valuation, but I can't for the life of me see the "winner takes all" scenario. I see strong commercial competition + competitive free models. Am I blind?

Not the worst thing in the world. If they IPO'd five months ago at $1.8T and dropped to $1.3 by EOY, they would lose trust of institutional and retail investors.