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Comment by awongh | Hacker News Reader

Crazy that Anthropic has a fraction of the AI model market that OpenAI has, but a valuation that's larger than their proportional share of the market to OpenAI....

The last valuation was at $157 billion- Anthropic is valued at 1/3 of OpenAI but has 1/10th of the market share....

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But their API usage market shares are much more comparable. Where OpenAI have a huge lead is in chatbot subscriptions (ChatGPT vs Claude). At the end of the day it seems that API usage - business use - is where the potential huge usage is.

Also, Anthropic's Sonnet 3.5 seems to be widely preferred as a developer tool, even over OpenAI's newer GPT-o1, and developer use is one of the current leading use cases for AI.

I found this: https://www.tanayj.com/p/openai-and-anthropic-revenue-breakd...

Which says Anthropic is about 1/2 the API revenue of OpenAI and growing fast. But OpenAI is actually 5x revenue overall and 18x the chat product revenue. (This is from Oct, not sure how much would have changed).

Great point — I see this as evidence that this investment is more "who gets AGI first" speculation than "who has more chat subscriptions".

Afaik this isn't just chat website user base, this also includes API calls through different platforms- Amazon, Azure, etc.

The market is betting the best model wins to some extent and anthropic is not slowing down.

People can't get into the OpenAI round so they buy Anthropic maybe?

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