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Robert Smith1
Anthropic chasing a $2 TRILLION valuation could force the entire AI industry to show its receipts.
The crazy part isn’t the $2T number itself.
It’s what happens when an AI company has to justify that valuation to public-market investors.
In private markets, you can sell the vision:
“Better models.”
“Massive enterprise demand.”
“AI will transform everything.”
But once you go public, the questions get much more uncomfortable:
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