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Comments on No. 32 of 59 · alexkras.com · edition of Sunday 1 November 2026

Reading Anthropic's S-1 as a Claude Code user

Summary

Anthropic's S-1 filing, as read by developer Alex Kras, shows revenue passing compute spend in Q1 2026, with Q2 revenue at $11.6B against $5.6B, and Claude Code emerging as the core business, with heavy enterprise spending and over 90% of the company's own code written by Claude.

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