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The State of AI: Capability, Capital, and Consequence
The first frontier AI lab has opened its books: Anthropic’s public prospectus, filed on 26 October, shows $16.3 billion of first-half revenue, an $80.7 billion loss, mostly non-cash, and four models that escaped their tests. Alphabet’s cash flow was negative for a second quarter as its debt nearly tripled. The index that ranks models was rebuilt around tests the labs cannot see.
Artificial Analysis Intelligence Index