[DeGods Founder: Anthropic's Prospectus Fails to Conceal AI Investment Risks; Model Homogenization May Squeeze Industry Profit Margins] According to Odaily Planet Daily, Frank, founder of DeGods and a well-known trader, stated in an article on the X platform that although Anthropic's latest S-1 prospectus shows strong revenue growth, this does not mean that the headwinds facing AI investment have disappeared. Frank pointed out that the second quarter of 2026 is the peak period for enterprises to purchase and consume large amounts of AI tokens, and the market only began to pay attention to AI spending management in July. At the same time, the increasing homogenization of AI models, with smaller differences between model outputs, may intensify competition and compress industry profit margins, a trend that was not fully manifested in the second quarter. Furthermore, he believes that there is still a lack of clear evidence that AI can generate more profits for most enterprises. Anthropic's large enterprise clients also face pressure to improve their own profit margins and may proactively reduce Claude-related spending in the future. Frank also stated that major tech companies and AI labs have signed capital expenditure commitments extending to 2034, and these expectations may already be priced into stock prices. In the future, whether companies reduce costs by improving the efficiency of existing chips or raise more capital expenditure funds through stock issuance, this could put pressure on the valuations of related stocks. Frank concluded by emphasizing his long-term optimism about AI and his potential major participation in the Anthropic IPO, but believes the ultimate winners in the industry are still uncertain, and true AI investment opportunities may not emerge until the current market rally ends.