Gary Marcus: Anthropic's slowing Q3 plus huge compute commitments means it all falls apart
GaryMarcus · x · 2026-10-29
Gary Marcus quotes analyst Ramaswmy Sridhar's figures: Anthropic had $16.3B of first-half revenue, with compute expense at 55% of sales versus 201% a year earlier — so exposure shouldn't be confused with failure. But Sridhar's core question is whether demand keeps outgrowing committed cost.
Marcus argues that Anthropic's slower Q3 combined with its massive future compute commitments suggests it won't — "in which case it all falls apart." A pointed bearish take on the sustainability of Anthropic's business model.
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