S-1: Anthropic spent ~$2.50 on compute and infrastructure for every $1 of revenue in Q1 2025, falling to under 50 cents in Q2 2026, as it seeks profitability (Financial Times) https://www.ft.com/content/a6c43402-719e-4295-ae5f-541edb0aeb29 http://www.techmeme.com/261027/p5#a261027p5