Does the frontier model · no date · no date
The prospectus's customer note: whether the customers at a tenth of sales or more add up to a fifth of revenue, against Silverio's October 5 count of a quarter from two customers.
How it settlesAdd the shares of revenue the filing gives, in its notes or its risk factors, for each customer at 10% or more of revenue in the latest fiscal year presented. Source: SEC EDGAR, Anthropic filings (Form S-1 and its amendments)
The exact question
Does the first registration statement Anthropic makes public on SEC EDGAR (Form S-1) report customers at 10% or more of revenue that together account for 20% or more of revenue in the latest fiscal year it presents?
The frontier is still paid
The dollars stay at the frontier: run-rates in the tens of billions, the hard work routed to closed models, distribution that outlives parity.
Open weights set the price
Open weights months behind the frontier take the volume at a fraction of the token price; a price cut with tenfold usage reads as a price war.
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