Anthropic Just Disclosed 80%+ Gross Margins and $11.5B Quarterly Revenue. Here's What That Changes.

Anthropic told investors it's profitable in Q2 with 80%+ gross margins and $11.5B quarterly revenue — the financial disclosure accompanying its $100B raise at $2T. These are better margins than Google and Microsoft and the strongest possible IPO setup. We cover what the numbers mean, Nadella joining the pacing camp with a Code of Conduct for MAI models, and two frontier lab safety researchers resigning to METR with a call for mandatory recursive self-improvement reporting.