[Institutional Review of Anthropic's Prospectus: Growth Prospects and Computing Costs Become the Focus] BlockBeats reported on October 27th that following Anthropic's public filing of its prospectus on October 26th, investment institutions and market participants began assessing its growth quality, cost structure, and potential valuation. As the company goes public, the operating data disclosed in the prospectus provides new insights into the commercialization progress of AI companies, with related comments exhibiting a mix of optimism and caution. Malik Ahmed Khan, senior equity analyst at global investment research and financial data company Morningstar, and Rolfes, an analyst at PitchBook, stated that the prospectus shows that as of September 30th, Anthropic had over 11,900 enterprise customers contributing at least $100,000 in revenue in the most recent 12 months, compared to approximately 950 in the same period last year. Khan believes this reflects Claude's rapid adoption in the enterprise market and outstanding revenue growth. The analysts also cautioned that a rapid increase in the number of customers is not sufficient to guarantee long-term revenue stability. The prospectus lacks detailed data on customer retention; the disclosed net revenue retention rate is also affected by a small base, and this indicator may decline as the comparison base expands. For enterprise software companies, whether customers continue to use the service and whether they increase procurement will affect the market's judgment of its revenue quality. Computing power investment is another issue of concern. Morningstar's analysis suggests that Anthropic currently demonstrates a certain level of computing power and operational efficiency, but some computing resources and related expenditures have not yet been fully reflected. As more computing power is put into use, costs may rise; if revenue growth fails to keep pace, profit margins will face pressure. PitchBook analyst Rolfes also cautions that the scale of future computing power contracts and infrastructure commitments is enormous, and the sustainability of revenue growth is a crucial variable in assessing the company's profitability prospects. Gavin Baker, Managing Partner and Chief Investment Officer of Atreides Management, is relatively optimistic about the growth prospects. He stated that it is still possible for Anthropic to reach $100 billion in annualized recurring revenue by the end of the year. This statement reflects Baker's assessment of the growth rate and is a personal opinion, not the company's published performance guidance. Cautious voices have emerged from independent financial advisory firm deVere Group. Its CEO, Nigel Green, questioned the widely circulated $2 trillion potential valuation, calling the expectation "outrageous" and cautioning investors to be aware of risks such as infrastructure spending, slowing growth, and future financing needs. Currently, the $2 trillion figure remains a market rumor; the prospectus has not yet determined the offering price and size.