Anthropic’s reported numbers are raising serious questions 👀
2025 Revenue: $4.6B 📈
Operating Loss: $8.06B
Compute Costs: $7.33B
Net Loss: ~$42B
But the bigger issue? 👇
💣 ~$518B in cloud & compute commitments over the next decade
💰 Cash: ~$20B
⚠️ A huge portion of those commitments reportedly can’t be cancelled.
And who sits on the other side?
$GOOGL — $111B
$AMZN — $110B
$MSFT — $31B
$AVGO — ~$161B in equipment leases
Anthropic’s commitments are Big Tech’s backlog.
And Big Tech is a massive part of $SPX.
If AI spending keeps running ahead of profits, what happens when investors start questioning the multiples?
My roadmap 👇
🎯 First target: $6,300
💥 Collapse target: $4,800
$4,800 would mean a full round trip back toward the April 2025 tariff-crash low.
And if $SPX gets hit hard, leveraged assets — including crypto — could feel the shock too. 📉
AI bubble or AI revolution?
The next few months could tell us a lot. 👀