Anthropic is still grappling with the economics of compute

Anthropic's compute margins worsened in the latest quarter, with compute costs taking up 58% of the company's revenue, up from 48% in the previous quarter. This is a problem for the company as it inches towards its IPO, as investors may be put off by declining margins. The company's operating loss grew at the same time as revenue reached $17 billion, up from $11.5 billion in the previous quarter. Anthropic's compute bill shot up to $10 billion for the quarter, with $5 billion of that under short-term commitments that cost significantly more than comparable longer-term deals.