> Is it actually being sold at a steep discount? Anthropic CEO has stated they have high margins on inference, so training is the big cost center.

They're spending more than they're making. For the foreseeable future, saying "we could be profitable if we stopped training" if goofy, because they can't stop. If they do, no one will want to use their product because it will be overtaken by competitors within three months.

I get it that in 10 years all of this might peak and we're gonna be content using old models, but that'll be a very different landscape and Anthropic might not be a part of it anymore if they don't start making money before that.