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Anthropic

Invest in Anthropic

Artificial Intelligence

Founded: 2021

Headquarters: San Francisco, California

anthropic.com

Status

Available

Last Round Valuation

$50 Billion

Share Price

$50.00

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About
Summary
Valuation

About Anthropic

Anthropic is an AI safety and research company working to build reliable, interpretable, and steerable AI systems. Anthropic's first product is Claude, an AI assistant for tasks at scale. Its research interests span multiple areas including natural language, human feedback, scaling laws, reinforcement learning, code generation, and interpretability.

Key Facts

The exponential growth in computational power for AI training suggests significant advancements in AI capabilities, potentially surpassing human intelligence within the next decade. However, ensuring these powerful AI systems are beneficial, honest, and safe remains a challenge. Rapid AI progress risks societal disruption and the premature deployment of untrustworthy AI, leading to potentially catastrophic outcomes.

Anthropic addresses AI safety by building large-scale generative models and conducting safety research to align them with human values, focusing on creating AI systems that are helpful, honest, and harmless. Their approach intertwines capability enhancement with rigorous safety measures, ensuring models are steerable, interpretable, and reliable. By leveraging their empirical science background, they aim to solve current AI challenges while preparing for future existential risks, grounding their work in practical applications to ensure both immediate and long-term safety.

Constitutional training is a process for training a model to adhere to a “constitution” of desired behavior. The core Anthropic model has been finetuned with constitutional training with the goal of becoming helpful, honest, and harmless.

Constitutional AI addresses these challenges by employing AI-driven feedback for output evaluation, utilizing a foundational set of principles for judgment, hence the "Constitutional" designation. This framework directs the AI to adhere to normative behaviors outlined in its "constitution," aiming to mitigate toxic or discriminatory outputs, prevent assistance in unlawful or unethical activities, and ensure the creation of AI systems that are beneficial, truthful, and safe.

Anthropic leverages a proprietary “Constitutional AI” research process built to align foundation models, prevent hallucination, and curb bias. Their technique combines supervised learning and reinforcement learning to teach “values” to a model. Anthropic’s first product, Claude, is a generic foundation model competitive with Open AI’s GPT-4.

Anthropic currently has two models: Claude and Claude Instant.

Claude is Anthropic’s most powerful model, which excels at a wide range of tasks from sophisticated dialogue and creative content generation to detailed instruction.

Claude excels at: (1) Complex reasoning, (2) Creativity, (3) Thoughtful dialogue, (4) Coding, (5) Detailed content creation .

Claude Instant is Anthropic’s faster and cheaper model, which can handle a range of tasks including casual dialogue, text analysis, summarization, and document comprehension.

Claude Instant excels at: (1) Performance at low cost, (2) Reduced latency, (3) Lightweight dialogue, (4) Moderation, and (5) Classification

The combined context window for Claude’s input and output is about 200,000 tokens, which works out to roughly 150,000 words, equaling over 500 pages of material, depending on the type of content.

The 200,000-token feature doubles what Claude could handle before, and it’s a significantly higher limit than the 32,000-token ceiling of the priciest version of Open AI’s GPT-4.

According to The Information in December 2023, Anthropic projected it will generate more than $850 million in annualized revenue by the end of 2024. Just three months before the report, Anthropic told some investors that it was generating revenue at a $100 million annualized rate and expected that figure would reach $500 million by the end of 2024.

According to Forbes, Anthropic has also apparently signed a $3 billion contract with Google Cloud.

According to The Information in January 2024, after covering the expenses for customer support and the servers required for its AI operations, Anthropic achieved a gross margin, which is the gross profit expressed as a percentage of revenue, ranging from 50% to 55% in December 2023.

Anthropic charges users on a usage-based pricing model. Every million tokens (approximately 750K words) processed by Claude Instant costs $0.80 for prompts and $2.40 for completions. For Claude 2.0 & Claude 2.1, the price increases to $8.00/million prompt tokens and $24.00/million completion tokens.

In August 2023, Anthropic announced that SK Telecom ("SKT"), the largest mobile operator in Korea rapidly integrating AI into its business, has become a commercial partner with Anthropic as well as a strategic investor. SKT and Anthropic will work together to develop a large language model that will be customized to best meet the needs of telcos. Using a technique called fine-tuning, Anthropic will leverage SKT’s domain experience in telecommunications in order to make the model optimized for a wide variety of telco applications including customer service, marketing, sales, and interactive consumer applications.

In September 2023, Anthropic announced a new collaboration with Boston Consulting Group (BCG) to bring Claude to more enterprises. BCG customers around the world will get direct access to Anthropic’s AI assistant to power their strategic AI offerings and deploy safer, more reliable AI solutions. Through this collaboration, BCG will advise their customers on strategic applications of AI and help them deploy Anthropic models including Claude 2 to deliver business results.

In September 2023, Anthropic announced that Amazon will invest up to $4 billion in the Company. The agreement is part of a broader collaboration to develop the most reliable and high-performing foundation models in the industry. Anthropic’s frontier safety research and products, together with Amazon Web Services’ (AWS) expertise in running secure, reliable infrastructure, will make Anthropic’s safe and steerable AI widely accessible to AWS customers. AWS will become Anthropic’s primary cloud provider for mission critical workloads, providing its team with access to leading compute infrastructure in the form of AWS Trainium and Inferentia chips, which will be used in addition to existing solutions for model training and deployment.

In October 2023, Alphabet’s Google is investing $2 billion into Anthropic, adding fuel to the fire that is the AI race to the top. Google said it had made a $500 million upfront investment in Anthropic and would stump up the remaining $1.5 billion over time. Google has already invested $550 million into Anthropic earlier in 2023. According to Forbes, Anthropic has also apparently signed a $3 billion contract with Google Cloud. In April 2023, Google invested $300 million in the company, taking a 10% stake.

In November 2023, Anthropic launched Claude 2.1. Claude 2.1 delivers advancements in key capabilities for enterprises—including an industry-leading 200K token context window, significant reductions in rates of model hallucination, system prompts, and its new beta feature: tool use.

In March 2024, Amazon.com said it is investing an additional $2.75 billion into Anthropic. The infusion brings Amazon’s total investment in the company to $4 billion.

In May 2024, Anthropic introduced its first smartphone app — an indication that the company is pushing more aggressively to make its Claude chatbot available to users no matter where they are. Anthropic said the new iPhone app is available for free and paid users of Claude and conversations will synchronize with those conducted via the web-based version of the chatbot. The app will also be able to analyze pictures — such as from photos users take — which enables the chatbot to perform tasks like image recognition.

In May 2024, Anthropic introduced a new paid plan aimed at enterprises, including those in highly regulated industries like healthcare, finance and legal. Called Team, the plan gives customers higher-priority access to Anthropic’s Claude 3 family of generative AI models plus additional admin and user management controls. Anthropic is competitively pricing its Team plan: $30 per user per month billed monthly, with a minimum of five seats.

In May 2024, Anthropic hired Instagram co-founder Mike Krieger to be its new product chief, part of a broader push to bring its AI services to more users and businesses. Krieger will help “expand our suite of enterprise applications and bring Claude to a wider audience,” the company said.

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Summary

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Customers

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Key Investors

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Size of Market

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Market Position

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Industry

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Primary Vertical

Artificial Intelligence

Employees

500

Mosaic Score

840

Money

760

Momentum

850

Management

760

Market

960

What is a Mosaic Score?

Key Officers

Name Work History Title Status
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current
John Smith Aenean, quam eu, diam dignissim Chief Executive Officer Current

Valuation

Valuation Over Time

chart

Last Round

Sept. 2019, Series B1

Valuation Post-Money

$400.2M

Amount Raised

$2.5M

Total Funds Raised

$75.2M

Implied Valuation

$84M

Funding Rounds

Date Round Amount Valuation Investors
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here
MM/DD/YYYY Growth Equity $1M $2.8B Name goes here

Competitive Landscape

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