Peter Gostev(@petergostev):We can estimate the amount of compute Anthropic used for R&D/Training/Internal use vs serving customers - by looking at their compute spend (c.$9b in H1 2026) cost of revenue ($2.4b) which leaves us with the rest ($6.6b) - so around 70% of compute is internal spend. I wouldn't have thought it is so high - and it is going up as well. Honestly I would have thought that the trend would be the reverse - they had such a big compute crunch but still managed to grow their internal R&D share.

2026.10.26 22:19

We can estimate the amount of compute Anthropic used for R&D/Training/Internal use vs serving customers - by looking at their compute spend (c.$9b in H1 2026) cost of revenue ($2.4b) which leaves us with the rest ($6.6b) - so around 70% of compute is internal spend. I wouldn't have thought it is so high - and it is going up as well. Honestly I would have thought that the trend would be the reverse - they had such a big compute crunch but still managed to grow their internal R&D share.

Peter Gostev@petergostev

2026.10.26 14:22

I have published a 60+ chart analysis of the Anthropic S-1. I'll show here some of my favourites. Deployed here: Anthropic made an operating profit of $974m in Q2 2026