[donkeyboy]

I think the main point is that these two companies have been thought of as equals. Yet OpenAI has a 850B valuation while Anthropic has a 380B valuation. So that means either OAI is overvalued, or Anthropic is undervalued. If you believe they are roughly equal, then it makes sense to have demand for Anthropic.

[TheRoque]

Your logic is flawed, comparing them doesn't mean anything about their absolute valuation, they could be both overvalued or both undervalued too

[marcosdumay]

But if you are going to put some money in one of those companies, you would pick the cheaper one that has more of a moat.

[surgical_fire]

Maybe both are overvalued.

[rvz]

Both are overvalued.

It's just that people are rotating the musical chairs from OpenAI to Anthropic because the former is cheaper than the other.

They (investors) will do this until there is no more upside left to extract.