[JacobAsmuth]

Divide both by 12 and you do not get the projected numbers. You get monthly revenue, a real measured number. It is the number being reported * 12 when they state a new ARR.

E.g. When Anthropic stated $1B ARR (an extrapolated value) what they were actually reporting is $(1/12)B Monthly revenue. If it helps their current monthly revenue is 47 times that, for a grand total of $(47/12)B per month in revenue.

[fc417fc802]

Yes it is the current monthly revenue which is a projected number as far as the other 11 months go. That's fine if the overall economy has low volatility, your sector is well established and predictable, and your company isn't undergoing any significant changes. Absolutely none of that applies to the frontier AI labs.