SemiAnalysis: Anthropic S-1 shows inference is great business, neoclouds still thrive
johncoogan · x · 2026-10-27
The SemiAnalysis team on @tbpn argues Anthropic's S-1 is good news for neoclouds: it shows AI inference is a genuinely great business — even training runs are highly profitable — with excellent compute margins, and neoclouds remain very good businesses.
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