MODEL · T16
Does the frontier model still command a price?
A frontier model now lists at $4 per million input tokens, open and Chinese models carry most of the tokens on the platforms that count them, and the two labs' revenue is counted in the tens of billions. Investors agree the token is cheap. They differ on what the lab is paid for, and only a prospectus on EDGAR can settle it.
Questions 5Open 5Call held 0Call missed 0
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.
11 voices
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.
10 voices
The questions
Settles Oct 28open
Did Alphabet, in its third-quarter 2026 results of October 28, 2026 (the earnings release, the 10-Q or the call), state a size for the TPU system sales contracts inside Google Cloud's backlog?
Settles Oct 29open
Did Amazon, in its third-quarter 2026 results of October 29, 2026 (the earnings release, the 10-Q or the call), disclose a customer or a group of customers at 10% or more of AWS revenue, or quantify Anthropic's share of AWS sales?
Settles Nov 18open
Did Nvidia, in its third-quarter fiscal 2027 results of November 18, 2026 (the earnings release, the 10-Q or the call), name OpenAI or Anthropic as a customer at 10% or more of revenue, or state the two labs' share of its revenue?
No date yetopen
Does the first registration statement Anthropic makes public on SEC EDGAR (Form S-1) show a gross margin of 50% or more for the latest period in its statement of operations?
No date yetopen
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?