> leaked financials from both OpenAI and Anthropic show unsurprisingly that they are losing billions due to R&D/scaling
No, they are losing billions because LLMs are not a viable business. Their real business is making bombastic statements which the credulous press prints unquestioning, fooling various investors and ... that's it. IPO is another of these. You really should note how the Anthropic IPO date keeps slipping because they can't make the S-1 public as it would give away the game immediately. The market was fooled by SpaceX once you can't do this a second or third time.
No, they are losing billions because LLMs are not a viable business. Their real business is making bombastic statements which the credulous press prints unquestioning, fooling various investors and ... that's it. IPO is another of these. You really should note how the Anthropic IPO date keeps slipping because they can't make the S-1 public as it would give away the game immediately. The market was fooled by SpaceX once you can't do this a second or third time.