Concern on Anthropic’s Compute Spend? Always respect @HedgeyeTech for accurate info, however I’m not too concerned about $518B compute spend as that includes a significant portion of 10 year contracts and some of that is forward projected short term contracts on emergency auction rates. The 25% customer is likely Meta. Yes Meta may have a great model in Watermelon but they don’t have the compute to serve it. They barely have enough for the early stage ramp of Muse ffs. I’m not saying that Anthropic is valued properly or not. I’m saying this is not concern for infrastructure buildout like $IREN. If Meta stop using Anthropic, it will need to outbid Anthropic for the compute to serve their replacement.
在 X 查看 ↗