The Minutes of Dylan Patel on anthropic https://minutesof.com/dylan-patel/on/anthropic/ Everything Dylan Patel has said on anthropic: 42 verbatim quotes between August 2025 and August 2026, each with a timestamp and a link to the recording it… en Sun, 30 Aug 2026 16:22:16 +0000 Patel says Anthropic generates $50 million per megawatt revenue, enabling 5x return on inference spending. https://minutesof.com/q/6e3f2d04-6524-4dca-bc2d-340a73646ca2/ https://minutesof.com/q/6e3f2d04-6524-4dca-bc2d-340a73646ca2/ “In the case of Anthropic, the the revenue has gone as high as $50,000,000 per megawatt.” — Dwarkesh Patel Tue, 25 Aug 2026 15:57:53 +0000 anthropic Patel reports Anthropic now generates up to $50 million per megawatt, a 5x return on compute costs. https://minutesof.com/q/e06c3440-97f6-494c-88a7-77a755b4e54a/ https://minutesof.com/q/e06c3440-97f6-494c-88a7-77a755b4e54a/ “And and what that now enables them to do is, hey, if I spend $10 on inference capacity, actually generate $50 of revenue,” — Dwarkesh Patel Tue, 25 Aug 2026 15:57:53 +0000 anthropic Patel reports Anthropic delayed Mythos release for months after February completion. https://minutesof.com/q/822f6c9b-aba9-4f30-acb5-06315490a37a/ https://minutesof.com/q/822f6c9b-aba9-4f30-acb5-06315490a37a/ “Anthropic took months to release Mythos. Right? They they said it was done in February. They did not release it until like what?” — SemiAnalysis Mon, 17 Aug 2026 15:00:06 +0000 anthropic Patel suggests labs may still use unreleased models internally despite not releasing them publicly for safety https://minutesof.com/q/4008c382-b751-4aaa-8a4a-8bb6b8858b13/ https://minutesof.com/q/4008c382-b751-4aaa-8a4a-8bb6b8858b13/ “have they prevented themselves from using Meetos two internally to make Meetos three better? Or have they prevented themselves from using Astra to make Astra plus one better?” — SemiAnalysis Mon, 17 Aug 2026 15:00:06 +0000 anthropic Patel argues labs haven't prevented internal use of unreleased models, maintaining gap between internal and pu https://minutesof.com/q/76f853de-a73e-4be2-b416-58556dc71639/ https://minutesof.com/q/76f853de-a73e-4be2-b416-58556dc71639/ “So I think that's the you've got the public and and and, you know, if anything, like, the gap between Mythos and public models is still there.” — SemiAnalysis Mon, 17 Aug 2026 15:00:06 +0000 anthropic Patel reports Anthropic employee stopped ADHD medication after getting Mithos, becoming more effective managin https://minutesof.com/q/b58eed2e-0987-4a86-9b6c-8e5ee489e1bd/ https://minutesof.com/q/b58eed2e-0987-4a86-9b6c-8e5ee489e1bd/ “the moment Mithos was good, and available internally Yeah. I I I she told me that she stopped taking her ADHD medicine. Oh, come on. And that made her a better employee.” — SemiAnalysis Mon, 17 Aug 2026 15:00:06 +0000 anthropic Patel reveals Anthropic turned first profit in Q2 and will hit billion-dollar operating profit in Q3 before IP https://minutesof.com/q/ab25a556-53cd-4e2e-ba7e-2336d5d78b64/ https://minutesof.com/q/ab25a556-53cd-4e2e-ba7e-2336d5d78b64/ “So Anthropic turned their first gross profit in Q2 in June. And then in Q3, they will be turning a billion dollars of operating profit, slightly over.” — RAISE Summit Thu, 16 Jul 2026 16:44:57 +0000 anthropic Patel says Anthropic will turn over a billion dollars of operating profit in Q3 2025. https://minutesof.com/q/3c00342d-5375-4871-94ff-17839b2860bd/ https://minutesof.com/q/3c00342d-5375-4871-94ff-17839b2860bd/ “Anthropic turned their first gross profit in Q2 in June. And then in Q3, they will be turning a billion dollars of operating profit, slightly over.” — RAISE Summit Thu, 16 Jul 2026 16:44:57 +0000 anthropic Patel says Anthropic's billion-dollar operating profit figures will appear in their IPO. https://minutesof.com/q/79ca9be3-58db-4c84-8ddc-aae2fb582abc/ https://minutesof.com/q/79ca9be3-58db-4c84-8ddc-aae2fb582abc/ “And so this is this is their financials that they're going to be putting out in their IPO.” — RAISE Summit Thu, 16 Jul 2026 16:44:57 +0000 anthropic Patel reports Anthropic achieved profitability and positive free cash flow in April and May 2025. https://minutesof.com/q/08ae2b50-adb5-46c6-899b-957a2d8ee1bf/ https://minutesof.com/q/08ae2b50-adb5-46c6-899b-957a2d8ee1bf/ “Anthropic is free cash flow positive, and they are profitable in q two. Even in April. In April, they closed April's books. They were profitable.” — WisdomTree in Europe Thu, 09 Jul 2026 06:16:39 +0000 anthropic Patel argues OpenAI models are optimized for GPUs while Anthropic and Google models are optimized for TPUs due https://minutesof.com/q/be4a0229-47ca-4709-9bde-b26e807119ac/ https://minutesof.com/q/be4a0229-47ca-4709-9bde-b26e807119ac/ “And the way that Anthropic and Google's models are headed, it's actually a terrible decision potentially for them to train with GPUs.” — The AGI Post Mon, 06 Jul 2026 22:07:54 +0000 anthropic Patel states Anthropic is profitable excluding stock compensation in Q2 with 80% margins on Opus tokens. https://minutesof.com/q/db45dba5-ecdb-452c-8fae-3210d613d134/ https://minutesof.com/q/db45dba5-ecdb-452c-8fae-3210d613d134/ “Anthropic in Q2 is profitable, their net income profitable, excluding stock based compensation. And I think by Q3 they may even be profitable, including stock based compensation.” — Sequoia Capital Tue, 30 Jun 2026 12:00:25 +0000 anthropic Patel reports Anthropic is Q2 profitable excluding SBC, expects Q3 profitability including SBC with 80% margin https://minutesof.com/q/7f1b8019-87b9-4143-aabf-b8e158bf4a47/ https://minutesof.com/q/7f1b8019-87b9-4143-aabf-b8e158bf4a47/ “And I think by Q3 they may even be profitable, including stock based compensation. That's how profitable they're getting, and their margins on an Opus token, at least Opus 4.8 token, is north of 80” — Sequoia Capital Tue, 30 Jun 2026 12:00:25 +0000 anthropic Patel reports Anthropic achieved over 80% margins on Opus tokens and expects full profitability including stoc https://minutesof.com/q/08d73c3f-320f-4d28-8b21-9083da9b5bf0/ https://minutesof.com/q/08d73c3f-320f-4d28-8b21-9083da9b5bf0/ “That's how profitable they're getting, and their margins on an Opus token, at least Opus 4.8 token, is north of 80 for the API price.” — Sequoia Capital Tue, 30 Jun 2026 12:00:25 +0000 anthropic Patel distinguishes OpenAI hiding reasoning chains from Anthropic showing them in code generation models. https://minutesof.com/q/a9706075-6705-4eb4-ad0e-013b2f735206/ https://minutesof.com/q/a9706075-6705-4eb4-ad0e-013b2f735206/ “In the case of OpenAI, they don't show you the whole reasoning chain. In the case of Anthropic, they do.” — Swole as a Service Wed, 13 May 2026 20:00:36 +0000 anthropic Patel argues Anthropic trapped itself in an innovator's dilemma by focusing on CLI instead of app experience. https://minutesof.com/q/ed8bef56-e332-41e3-8a94-a14a9c665e4c/ https://minutesof.com/q/ed8bef56-e332-41e3-8a94-a14a9c665e4c/ “But the CLI experience is not the end all be all of agent orchestration and therefore they've really cooked themselves into sort of like an innovator's dilemma where they keep making the CLI better.” — SemiAnalysis Weekly Wed, 06 May 2026 00:55:06 +0000 anthropic Patel cites Anthropic adding $67 billion ARR per month as evidence of expanding AI revenue beyond hyperscalers https://minutesof.com/q/8d242968-225b-41c7-86f6-4f27678a4907/ https://minutesof.com/q/8d242968-225b-41c7-86f6-4f27678a4907/ “You're starting to see it with Anthropix revenue adding $67,000,000,000 of ARR a month, but there's so many more firms coming online with revenue streaming in,” — CNBC Television Mon, 16 Mar 2026 21:58:55 +0000 anthropic Patel estimates Anthropic needs to reach well above five gigawatts of compute capacity by year-end to support https://minutesof.com/q/dde6295c-09fa-47d0-9fb4-f6266575281d/ https://minutesof.com/q/dde6295c-09fa-47d0-9fb4-f6266575281d/ “Anthropic needs to get to well above five gigawatts by the end of this year, and it's gonna be really tough for them to get there, but it's possible.” — Dwarkesh Patel Fri, 13 Mar 2026 16:26:57 +0000 anthropic Patel reports $19 billion Anthropic revenue is driven by code spend, implying industry-wide $20 billion expend https://minutesof.com/q/25890617-f219-4daa-b5eb-8e3339b350f0/ https://minutesof.com/q/25890617-f219-4daa-b5eb-8e3339b350f0/ “You look at like quad code spend, right, it's freaking nuts. Right? 19,000,000,000 of revenue for Anthropic now. All of that is, you know, at some multiple is code.” — Matthew Berman Mon, 09 Mar 2026 17:07:47 +0000 anthropic Patel criticizes Dario's response to hypothetical nuclear scenario as inadequate for government AI policy disc https://minutesof.com/q/dbb65dfb-41e5-4e5e-883e-13cf2d410ddd/ https://minutesof.com/q/dbb65dfb-41e5-4e5e-883e-13cf2d410ddd/ “If a nuclear missile's heading from China to America and we can use AI to stop it, but it requires surveillance and autonomous weapons, what do we do?” — Matthew Berman Mon, 09 Mar 2026 17:07:47 +0000 anthropic Patel criticizes Dario Amodei's response to a hypothetical nuclear defense scenario as the dumbest possible an https://minutesof.com/q/b5ca73ad-828e-451d-abbd-d5d5927720b3/ https://minutesof.com/q/b5ca73ad-828e-451d-abbd-d5d5927720b3/ “And Dario was like, well, you can call us. I'm sure we can figure something out. Like, this is just the dumbest response you could ever come up with.” — Matthew Berman Mon, 09 Mar 2026 17:07:47 +0000 anthropic Patel predicts Anthropic revenue will grow from $19B to $60B by year end amid majority-negative AI sentiment. https://minutesof.com/q/fe481a98-ee52-4271-a902-5fcb25373eaa/ https://minutesof.com/q/fe481a98-ee52-4271-a902-5fcb25373eaa/ “The sentiment is already more than half Americans have a negative view of AI. As we fast forward to the end of this year, as Anthropix revenue goes from 19,000,000,000 to maybe 60, and OpenAI is similar, if not higher, the amount of jobs that get supplemented, the amount of change that happens in society,” — Matthew Berman Mon, 09 Mar 2026 17:07:47 +0000 anthropic Patel states Anthropic now adds $23 billion revenue monthly versus few hundred million earlier. https://minutesof.com/q/a9df3580-18d1-4ac3-9f9d-afcb758ea6d7/ https://minutesof.com/q/a9df3580-18d1-4ac3-9f9d-afcb758ea6d7/ “Anthropics, you know, adding $23,000,000,000 of revenue a month now Mhmm. Versus they were just adding a few 100,000,000 of revenue a month earlier. So clearly, we're in the take off period.” — Latent Space Thu, 26 Feb 2026 21:15:18 +0000 anthropic Patel calculates Anthropic added $1.5 billion in compute infrastructure in one month to serve new revenue grow https://minutesof.com/q/b1ba2e20-500e-4a5d-8e13-3d8ecec9f6a2/ https://minutesof.com/q/b1ba2e20-500e-4a5d-8e13-3d8ecec9f6a2/ “If Anthropic added 2,500,000,000 of revenue, and their gross margin is 40%, they added like $1,500,000,000 of compute in one month. Mhmm. Right?” — Latent Space Thu, 26 Feb 2026 21:15:18 +0000 anthropic Patel says Anthropic's $300 billion revenue target for end of decade is actually too conservative. https://minutesof.com/q/170adcfe-f306-42e0-8573-f93458964072/ https://minutesof.com/q/170adcfe-f306-42e0-8573-f93458964072/ “when Anthropic says in their funding, like, hey, we're gonna have $300,000,000,000 of revenue by the end of the decade. And it's like, actually, I think that number's too low.” — TBPN Tue, 03 Feb 2026 23:08:03 +0000 anthropic Patel predicts AWS revenue growth will reaccelerate after consistent deceleration due to Anthropic and new dat https://minutesof.com/q/62b39bc8-1e44-4f9d-b9b5-d25bb37cda66/ https://minutesof.com/q/62b39bc8-1e44-4f9d-b9b5-d25bb37cda66/ “AWS has been decelerating revenue. Year on year revenue has been falling consistently. And and our big call is that it's actually going to start reaccelerating.” — a16z Mon, 22 Sep 2025 13:01:51 +0000 anthropic Patel predicts Anthropic's revenue growth will match OpenAI's by 2027 based on current trajectory. https://minutesof.com/q/6bed82d7-4772-4838-8261-4284e45720c8/ https://minutesof.com/q/6bed82d7-4772-4838-8261-4284e45720c8/ “Their revenue growth rate right now implies that they would be OpenAI sometime in 2027, which is a really, really big deal in terms of revenue.” — David Ondrej Thu, 18 Sep 2025 16:14:25 +0000 anthropic Patel describes Anthropic as cult-like with more unified AGI vision and mission focus than OpenAI. https://minutesof.com/q/690761af-fd93-465d-b50e-8ec9407901bb/ https://minutesof.com/q/690761af-fd93-465d-b50e-8ec9407901bb/ “They are a bit of a cult. Right? They've they believe in the mission much more than any other lab. Not that OpenAI people aren't cultists as well.” — David Ondrej Thu, 18 Sep 2025 16:14:25 +0000 anthropic Patel explains Anthropic's strategy prioritizes solving software engineering and computer use to accelerate AG https://minutesof.com/q/aa6641ef-0753-4c71-b758-39a780e0e6ea/ https://minutesof.com/q/aa6641ef-0753-4c71-b758-39a780e0e6ea/ “First, we have to solve software engineering, and then we can use that to build all the other pieces. Right? First, we have to solve computer use.” — David Ondrej Thu, 18 Sep 2025 16:14:25 +0000 anthropic Patel notes Anthropic's seven cofounders have equal equity and left OpenAI with clear unified mission focus. https://minutesof.com/q/f8556bad-3337-4bf5-9fe1-739ea3a3c95d/ https://minutesof.com/q/f8556bad-3337-4bf5-9fe1-739ea3a3c95d/ “Anthropic, you know, sort of has you know, they had seven cofounders all with, like, equal equity. And these these cofounders were, like, very focused on exactly this mission.” — David Ondrej Thu, 18 Sep 2025 16:14:25 +0000 anthropic Patel contrasts Anthropic's multiple technical cofounders with OpenAI where Sam Altman is not technical. https://minutesof.com/q/4ea001aa-719a-431a-b36b-8d30a4cd3f10/ https://minutesof.com/q/4ea001aa-719a-431a-b36b-8d30a4cd3f10/ “They've got cofounders who are extremely technical, whereas OpenAI, right, you know, they they they don't have necessarily like, Sam's not super technical. You know, the obvious Greg Greg is a cofounder, he's super technical.” — David Ondrej Thu, 18 Sep 2025 16:14:25 +0000 anthropic Patel says OpenAI and Anthropic are receiving 30% of all GPU chips being produced this year. https://minutesof.com/q/c914f140-c01e-4389-9fe1-0e490d20dbdc/ https://minutesof.com/q/c914f140-c01e-4389-9fe1-0e490d20dbdc/ “30% of the chips are going to them, just those two companies. But that's actually like, okay, well, 70% of the stuff, who's making off well, one third of it is ads, whether it be ByteDance or Meta or many of the other people who are doing ads.” — a16z Mon, 18 Aug 2025 18:26:43 +0000 anthropic So this is something that I've found very interesting is that we've been trying to build a lot of alternative https://minutesof.com/q/36f6f6ad-0c49-48c4-a802-5b0dcbc90315/ https://minutesof.com/q/36f6f6ad-0c49-48c4-a802-5b0dcbc90315/ “So this is something that I've found very interesting is that we've been trying to build a lot of alternative data sources for token usage, who's using tokens, what models, where, etcetera, why, and it's very clear that people aren't actually using the reasoning models that much in API. Anthropic has eclipsed OpenAI and API revenue,” — No Priors: AI, Machine Learning, Tech, & Startups Thu, 14 Aug 2025 10:01:35 +0000 anthropic Patel claims Anthropic has overtaken OpenAI in API revenue, primarily from Claude 4 non-reasoning mode for cod https://minutesof.com/q/daaf9730-0cb4-43fb-b75b-0043d311a230/ https://minutesof.com/q/daaf9730-0cb4-43fb-b75b-0043d311a230/ “Anthropic has eclipsed OpenAI and API revenue, and their API revenue is primarily not thinking. It's Cloud four, but it's not in the thinking mode, code being the biggest use case that's skyrocketing.” — No Priors: AI, Machine Learning, Tech, & Startups Thu, 14 Aug 2025 10:01:35 +0000 anthropic Patel questions xAI's valuation exceeding Anthropic's despite no leading model, crediting only their fast Colo https://minutesof.com/q/ef80dc2d-4fab-4c3c-8060-7f9e75eedb8a/ https://minutesof.com/q/ef80dc2d-4fab-4c3c-8060-7f9e75eedb8a/ “What has xAI actually done to deserve their prior funding rounds? They haven't released a leading edge model, and yet their evaluation's higher than Anthropic today.” — No Priors: AI, Machine Learning, Tech, & Startups Thu, 14 Aug 2025 10:01:35 +0000 anthropic Patel questions xAI's valuation exceeding Anthropic's despite lacking a leading model, crediting infrastructur https://minutesof.com/q/9670f4ca-5b3e-44bf-a674-a7e422907676/ https://minutesof.com/q/9670f4ca-5b3e-44bf-a674-a7e422907676/ “They haven't released a leading edge model, and yet their evaluation's higher than Anthropic today. At least Anthropic's racing, It's Elon, A, and B, they've tackled a problem creatively” — No Priors: AI, Machine Learning, Tech, & Startups Thu, 14 Aug 2025 10:01:35 +0000 anthropic