Anthropic is currently at a annual recurring revenue run rate of $74.3 Billion Anthropic is on pace to bring in more revenue than companies like American Express, Eli Lilly, and IBM 😲 - Anthropic: $74.3B - American Express $AXP: $74.2B - Eli Lilly $LLY: $72.2B - IBM $IBM: $68.9B - Morgan Stanley $MS: $68.8B

$IBM Woah. IBM put out preliminary Q2 results...and they are not good. Revenue was $17.2B vs $17.86B expected, up 1% YoY. Consulting revenue was flat and infrastructure revenue was down 7% YoY. All the software names are down in sympathy to IBM basically saying that software spend went to semiconductor spend this quarter. CEO Arvind Krishna: “In the last few weeks of June, we saw clients shift their quarterly capex spend toward servers, storage, and memory purchases to secure supply-constrained infrastructure ahead of expected price increases.” He also said clients were distracted by “rapidly-evolving, industry-wide cybersecurity concerns,” and that IBM “did not anticipate the magnitude of the capex reprioritization.” Company just lose $65B in market cap. I don't think all the software names should be down because of IBM's specific news but today could be a day where the fear of this happening to other names affects all of them. $IBM -24%