In March 2023, when commercial sales began, the figure was practically zero.

The curve remains flat for nearly two years, then shoots up like a vertical wall, tracking a series of model and product launches tailored to specific sectors, such as finance, healthcare, and education.

Anthropic has approximately $865 billion in off-balance-sheet commitments—almost entirely in the form of contracted computing capacity.

A quarterly revenue of $17 billion is what begins to provide a foundation for a commitment of this magnitude.