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Anthropic
Every piece of Zan Digital analysis that covers Anthropic — 12 pieces, each figure traced to a named source.
- 001AI Capex 2026: The $725B Bet With No Payback MathFour hyperscalers plan roughly $725B of capex in 2026, up 77% on 2025. Here is where the money goes, what it earns today, and the three numbers to watch.$725B
- 002AI Circular Deals: Who Actually Pays Whom, and How MuchNvidia's up to $100B commitment to OpenAI was finalised at $30B. A map of the AI circular deals: what is signed, what is only intent, and why it matters.$100B → $30B
- 003AI Cost Management: Cheap Tokens, Bigger AI BillsToken prices fell as fast as 40x a year, yet 93% of enterprises blew past their AI budgets in 2026. Here is the arithmetic behind the bigger invoice.5x
- 004Anthropic IPO: The Enterprise Listing That Resets PricingAnthropic filed confidentially on 1 June 2026 for an October listing. A $47B run rate, 85% enterprise revenue, and why the mix matters more than the number.$47B
- 005Cursor at $2B ARR: Fastest SaaS Ever or Most Fragile?Cursor doubled revenue in three months to $2B ARR and sought funding near $50B. The growth is real. So is the question about whether the moat is.$2B
- 006GenAI ROI: Why 95% of Pilots Show No Return, and Who DoesMIT found 95% of GenAI pilots show no measurable P&L return. What the 5% did differently, where the money is really being made, and how to measure your own.95%
- 007OpenAI IPO: What a Delay Past 2026 Actually SignalsOpenAI filed confidentially in June 2026, then weighed a delay rather than list below $1T. What the numbers say about why, and what each outcome means.$852B
- 008The AI Revenue Leaderboard: Who Has Real RevenueCommitments, run rates and bookings get reported as if interchangeable. A ranking by revenue quality rather than headline number, with what each figure means.~$47B
- 009Agent Marketplaces: What Distribution Is Actually WorthEvery major platform launched an agent marketplace. In one editor's data, 3 agents took 92% of turns. What marketplace distribution is really worth.92%
- 010AI Moats in 2026: Integration Depth Beats Model DepthThe top 4 AI labs sit within 25 Elo points of each other. Model quality no longer separates products. Integration depth does, and here is the evidence.25 Elo
- 011MCP: The Standards Fight That Decides the Agent StackMCP went from one company's experiment to a Linux Foundation standard with 97M monthly SDK downloads. What it settles, what it does not, and who benefits.~97M
- 012AI COGS: How to Read a Vendor's Real Gross MarginC3.ai reported 31% GAAP gross margin in FY2026 and 46% non-GAAP. AI COGS hides inference, retrieval, evaluation and human review. How to read the real number.31% vs 46%