⚡️ JUST IN: Most of Anthropic's amount is not cash.

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⚡️ JUST IN: Most of Anthropic's amount is not cash. About $72B comes from non-cash convertible-note and other financing adjustments that grow with valuation, leaving roughly $8.7B.

The draft S-1 shows $16.3B in first-half revenue versus $1.1B a year earlier, with 20% from two customers, and an IPO tentatively set for November at around $2 trillion.

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