No it’s a retroactive open invitation.

They didn't actually raise that 100 billion fully, tranches were contingent on different factors, some of which haven't even been hit yet.

why not just value it at 40T if we're all just throwing numbers randomly

The first $1 bajillion company

Ok, give me $1000 dollars for a stake in OpenAi at a $4T valuation and I will deliver you .000000025% of the company in stock when they go public.

This valuation is a function of early accumulation of compute. They could rent it to Anthropic, or poach more Anthropic engineers.

Not sure how long you'll be able to sell compute to anthropic for. They are constrained right now but they have an insane pipeline of take or pay contracts, and if those are delivered they'll be drowning in compute in a couple of years time.

Do you think they would actually sell compute to anthropic? Relative to working with other labs that feels like conceding the overall AI race atleast outside of consumer.

They could just do it through azure or aws. Also, at these numbers a pseudo merger between OpenAI and Anthropic could happen. There is no anti trust anymore. It’s all the same owners for all these companies… the only anti trust is between usa, Russia, Europe, China, and the middle powers.

Anthropic has a higher valuation than OpenAI.

There was news just yesterday that investors are lowering Anthropic's IPO target to around $1.1T, so no.

Not for long.

? Are you implying there will be something that affects investors' confidence to Anthropic, and somehow OpenAI will be immune to that?

It's not my opinion, https://www.bloomberg.com/news/articles/2026-11-06/anthropic...

I think Anthropic is worth far less... but it's looking like they may attempt to raise at a valuation betwen 1.1 and 1.2tn.

eventually data centers will go on fire sales just like downtown commercial real estate.

anthropic futures on binance dropped again today. why don't they just do a direct listing and then atm share sales ?

Astra and Claude were trained by peg bundy?

Bottleneck is intelligence, not experience.

Kind of like the old days of human gatekeepers.

google was just hoarding the tech… money invested in openai came from somewhere probably as profits (just re-allocated by the shareholders rather than management)

The stocks in the index funds are picked, just by a committee. And there are a few competing index funds.

They're picked (mostly) using very mechanical rules though so e.g. hedge funds actively speculate on which stocks will be added to the index