This is not very hard. This is a new and exciting world and Anthropic is one of the leaders..for now. There is no history of analysis on which to rely where the ink is actually dry.  They are going to have to grow revenue at enormous rates, prove themselves to have a model that scales and gets increasingly profitable, capex will likewise grow at rates less than revenue, and you will need to trust that management, cocooned by a corporate governance structure that would make any white collar criminal blush, makes a series of correct capital allocation decisions with funds the size of a mid-sized country’s GDP. Nothing but net.

Good luck.