ANTH - Anthropic

When it goes public, it could be a strong AI play. Private company mentioned as a pick.

The video argues Anthropic's $965B valuation is unjustified. The government can shut down its core product overnight, Chinese competitors offer models 60x cheaper that are immune to U.S. kill switches, and the winner-takes-all thesis underpinning the valuation is flawed. The TAM shrinks dramatically if the product is classified as a weapon.

Anthropic has filed for an IPO. Tom warns that the wave of AI IPOs allows early investors to exit to retail, and that companies may be racing to go public before capital runs out.

Shaan Puri mentions he's trying to invest in Anthropic. The hosts discuss Anthropic's explosive growth — $6B in one month, 10x year-over-year growth for 3-4 years straight — and compare its trajectory favorably to enterprise software giants like Snowflake and Databricks. They note its $400B valuation seems like a 'steal' given the growth rate.