Anthropic is still grappling with the economics of compute

Anthropic's updated S-1 filing disclosed results through September 30, showing revenue of $17 billion, up from $11.5 billion the prior quarter, while compute costs rose to 58% of revenue from 48%. The company's quarterly compute bill reached $10 billion, including $5.0 billion under short-term commitments that cost significantly more than multi-year deals, and it said compute and infrastructure expenses will remain its largest operating expense for the foreseeable future.