Anthropic Burns ~80% Less Per Token Than OpenAI, Says Hedge Fund Manager Gavin Baker
rohanpaul_ai · x · 2026-09-18
On the Invest Like The Best podcast, Gavin Baker, CIO of Atreides Management, argued that OpenAI and Anthropic are very different animals on capital efficiency: Anthropic has a dramatically lower cost per token and may have burned roughly 80% less than OpenAI, implying very different structural ROICs between the two businesses.
Related event: Hedge Fund Manager Says Anthropic's Token Cost Is Far Lower Than OpenAI's(2 posts)→
More from Venture
- 40k dictated words a month ranks top 2% on WisprFlow — is voice AI demand weak? — mtns_of_magic · 2026-11-04
- Founder gave his AI his inbox to raise $10M; first tweet hit 100K views — LinusEkenstam · 2026-11-04
- Mistral's valuation soared from $2.2B to $24B in under three years, and one observer now calls it underpriced — smlpth · 2026-11-04
- Gary Marcus: AI data center demand has already passed its peak as projects get killed — GaryMarcus · 2026-11-04
- AI stocks slide as Texas governor result raises data center risks — 1659447091 · 2026-11-04
- Gary Marcus: 'fleecing the public with AI fantasies just got harder' as AI stocks drop — GaryMarcus · 2026-11-04