What Is Anthropic's Actual Loss?

Scott Galloway says the accurate Anthropic loss is $9 billion on $16 billion in revenue. Media coverage says Anthropic lost $80 billion on $16 billion in revenue. He says 72 of the $80 billion was an accounting loss on convertible debt that converts into equity because the equity keeps rising in value.

He thinks Anthropic multiplied revenue by 9 times year on year. He says the AI trade is still showing an unprecedented level of velocity in revenues, adoption, new products, and capital formation.

He agrees a correction is coming. He is not sure he would buy the narrative that the trade is clearly a bubble waiting to pop viciously.