The reason why S&P 500 earnings estimates keep going up is because for the first time in history, capex expense is now being counted as revenue in Wall Street's forward earnings estimates.
If Wall Street was counting AI capex expense at the same rate as they are counting the… pic.twitter.com/vj9JKqJzDe
— Mac10 (@SuburbanDrone) August 14, 2026
The AI trade has a $70 billion secret, and it sits off everyone's balance sheet.
To keep the buildout going, Nvidia agreed to backstop up to 25% of a $500 billion financing push, guaranteeing the resale value of its own chips. Meta and Broadcom already ran the play. Three known… pic.twitter.com/RMZlDDWxk9
— Kurt S. Altrichter, CRPS® (@kurtsaltrichter) August 16, 2026
Warsh the hawk?
Hardly.
Bloomberg is reporting that US financial conditions are the easiest in 30 years. pic.twitter.com/Q8QhOiKori
— QE Infinity (@StealthQE4) August 15, 2026
Anthropic IPO valuation hinges on $190-200 billion 2028 revenue forecast, sources say
Aug 14 (Reuters) – As Anthropic prepares for what could be one of the biggest IPOs on record, Wall Street is looking further into the future than it commonly does to put a price on the AI company, valuing it based on how much revenue it could generate two years from now.
Anthropic is projecting 2028 revenue of roughly $190 billion to $200 billion, according to two people familiar with the company’s financials, a figure that has not previously been reported. The projection dwarfs the $47 billion revenue “run rate,” reflecting the firm’s current pace of business, that the company publicized as recently as May, and shows the scale of growth investors are being asked to underwrite.Bankers and investors are using enterprise value-to-revenue multiples based on forecasts, four sources said.
Using revenue multiples is common for high-growth software companies that have yet to establish a mature profit profile.
But looking two years ahead is less typical, reflecting the speed at which Anthropic’s business is expanding and the challenges of setting benchmarks for a company still spending heavily to build out its AI infrastructure, the people said.