Anthropic's third-quarter revenue numbers disclosed to investors on Wednesday implied that its growth has slowed from the second quarter. This slowdown is likely to put a ceiling on its IPO valuation. The company might have been better off going public in June, when its growth was still spectacular, though a June IPO might have been impractical due to SpaceX's public offering at that time. Anthropic's aggressive pricing has prompted companies such as Microsoft to cut spending on its models, and developers are increasingly opting for other models that are good enough for most tasks.
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