| The reasons we have Google in the index and not Anthropic are many: 1. Google has a history of profits. Their move into AI isn't coming at the expense of Search Ad revenue, and can be seen as defending it for the future. Their last annual report shows continued growth in this sector. So the P:E ratio isn't NaN. 2. Their stock prices has survived the test of market trading and multiple reporting windows, short sellers, WSB regressive behavior, etc. In part because they have a huge publicly tradeable float. 3. There isn't a huge bundle of shares in lockup until six months after the IPO that would put selling pressure on the symbol. It's also a safer bet as a company, though that technically shouldn't be the criteria for indexing: 1. Google has a diverse product line: youtube subs, search ads, adwords, cloud services, etc. And a demonstrated ability to launch more (probably too many more). 2. They have a huge existing customer base to upsell to; cost of customer acquisition would be low for quite a while. 3. Anthropic and OpenAI are dependend on nvidia to supply them every beefier chips, while Google has their own TPUs to run on and lease out to others. |