Investors shove another $30B into the Anthropic money furnace
- Reference: 1770991331
- News link: https://www.theregister.co.uk/2026/02/13/anthropic_series_g/
- Source link:
The figures offer insight into the mentality of investors in AI platforms. Anthropic, like its rival OpenAI, has yet to turn a profit, although there are hopes that it will do so any moment now. Investors continue to surf a wave of expected returns. The outfit is heavily burning cash to fund AI model development — and has made billions in headline [1]compute and infrastructure commitments .
Anthropic began generating revenue less than three years ago. Its [2]announcement said: "Today, our run-rate revenue is $14 billion, with this figure growing over 10x annually in each of those past three years."
[3]
A chunk of that is being driven by Claude Code, the company's agentic coding model. The company stated that business subscriptions to the service have quadrupled since the start of 2026, and enterprise usage accounts for more than half of all Claude Code revenue.
[4]
[5]
According to a [6]February report , 4 percent of GitHub public commits are authored by Claude Code. The same report optimistically reckons that Claude Code will account for more than 20 percent of daily commits by the end of 2026.
[7]OK, so Anthropic's AI built a C compiler. That don't impress me much
[8]Anthropic promises its datacenters totally won't drive up your utility bill
[9]Anthropic's Claude Opus 4.6 spends $20K trying to write a C compiler
[10]Anthropic apes OpenAI with cheeky chatbot commercials
Such projections warrant caution. Developers are unlikely to surrender production workloads – or even personal projects – to machine-generated code without debate. The bigger question is what Anthropic will ultimately need to charge to deliver returns for investors.
Then there is code quality. Recently, Anthropic's Claude Opus 4.6 [11]spent $20K to produce a partly functional C compiler. A researcher characterized the resulting Rust as "reasonable" but "nowhere near" expert level.
[12]Ads won't bolster the company's revenues in the same way as planned by its rivals. Anthropic has committed to keeping advertising out of the Claude model family, even as it has run marketing campaigns joking about the idea of inserting ads into chatbot conversations.
[13]
That said, OpenAI is unlikely to be too worried about Anthropic's barbs. Last year, it [14]achieved a nominal value of $500 billion , a figure that could hit $750 billion or more in 2026. As 2025 drew to a close, SoftBank [15]announced it had invested another $22.5 billion in the company. ®
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[1] https://www.cnbc.com/2026/01/03/anthropic-daniela-amodei-do-more-with-less-bet.html
[2] https://www.anthropic.com/news/anthropic-raises-30-billion-series-g-funding-380-billion-post-money-valuation
[3] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=2&c=2aY9Ys3q8HkUz349Gi52tUAAAAQ8&t=ct%3Dns%26unitnum%3D2%26raptor%3Dcondor%26pos%3Dtop%26test%3D0
[4] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44aY9Ys3q8HkUz349Gi52tUAAAAQ8&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[5] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=3&c=33aY9Ys3q8HkUz349Gi52tUAAAAQ8&t=ct%3Dns%26unitnum%3D3%26raptor%3Deagle%26pos%3Dmid%26test%3D0
[6] https://newsletter.semianalysis.com/p/claude-code-is-the-inflection-point
[7] https://www.theregister.com/2026/02/13/anthropic_c_compiler/
[8] https://www.theregister.com/2026/02/12/anthropic_power_promises/
[9] https://www.theregister.com/2026/02/09/claude_opus_46_compiler/
[10] https://www.theregister.com/2026/02/05/anthropic_superbowl_openai_chatgpt_ads/
[11] https://www.theregister.com/2026/02/09/claude_opus_46_compiler/
[12] https://www.theregister.com/2026/02/04/anthropic_no_advertising_in_claude/
[13] https://pubads.g.doubleclick.net/gampad/jump?co=1&iu=/6978/reg_software/aiml&sz=300x50%7C300x100%7C300x250%7C300x251%7C300x252%7C300x600%7C300x601&tile=4&c=44aY9Ys3q8HkUz349Gi52tUAAAAQ8&t=ct%3Dns%26unitnum%3D4%26raptor%3Dfalcon%26pos%3Dmid%26test%3D0
[14] https://www.theregister.com/2025/10/03/ai_bubble_watch_markets
[15] https://group.softbank/en/news/press/20251231
[16] https://whitepapers.theregister.com/
Except is is worse, it is a run-rate revenue, which lets you include one-offs as if they are repeatable...(My understanding anyway, happy to be corrected if that is not true). I assume that Ed Zitron will be all over this one...
Huge datacenters, but humans who need shelter can fyck right off.
Ok, should have been ruder
There has clearly not been enough [1]sneering at their C compiler and the mugs^^^^investors have fallen for Anthropic's version of reality.
Trouble is, there is so much delusion, fuelled by their refusal to believe that, as they are all such canny investors, they could never be fooled into making such a bad decision, and the strange depth of belief in the magical properties of the "AI" (which we see popping up here every now and again), that it gets exhausting trying to go over it all, *again*, without just resorting to screaming at them "NO! No, that is NOT what it is doing!".
As a wise man once said: after all, it's not easy, banging your head on some mad bugger's wall.
[1] https://www.theregister.com/2026/02/13/anthropic_c_compiler/
Magical Thinking
I'm reminded of investors who convinced themselves that WeWork and Theranos were also going to be magically profitable.
I'm sure the money will start flowing any day now /s
Re: Magical Thinking
Lots of it from our pension funds…
Aaaah, that 'annualized revenue' thing again...