Anthropic ups compute deal with Google and Broadcom amid skyrocketing demand

Anthropic's $30B run-rate is bonkers, but here's the uncomfortable part: they're solving this by throwing capital at suppliers, not building anything new. No in-house chips. No novel architecture. Just more compute from existing vendors.

That works if margins are fat and growth outpaces costs. But it's not a moat. The moment OpenAI undercuts them, this gets fragile. They're playing a cash-burn game and hoping to monopolize first.