CHARACTERS
DARIO AMODEI — CEO of Anthropic. Earnest. Slightly amused. Wearing a vest like a man who has already priced the room.
KEVIN O'LEARY (MR. WONDERFUL) — Money with a pulse.
MARK CUBAN — Has done the math before you finished the sentence.
ROBERT HERJAVEC — Wants to believe. Cannot.
LORI GREINER — Wants to know who the customer is.
ANNOUNCER (V.O.) From the Sony Pictures lot in Culver City… it's Shark Tank.
KEVIN I heard the valuation rumor backstage. I assumed it was a typo.
MARK I assumed it was a typo in the currency.
ROBERT I've seen a lot of hockey sticks in my life, Kevin.
KEVIN You are a hockey stick, Robert.
(The doors open. DARIO walks the long walk. Confident. A man who has done 400 investor meetings and has the calves to prove it.)
DARIO Hi, Sharks. I'm Dario. I'm the CEO of Anthropic. We make Claude — the AI that writes your emails, your code, and, increasingly, your quarterly reports. Last Monday we filed an amended S-1 with the SEC. Third-quarter revenue: seventeen billion dollars. Up about 1,127 percent year over year.
LORI (sitting up) Okay. Now we're talking.
DARIO Nine months: thirty-three point two billion. Adjusted operating income in Q3: two and a half billion. Fifteen percent adjusted margin.
KEVIN Now I'm interested.
DARIO Unadjusted operating loss: five hundred sixty-seven million. Mostly because we bought five billion dollars of short-term compute that costs more than our long-term contracts. And a two-billion-dollar non-cash charge from our employee donation-matching program.
KEVIN You lost money donating. That's the most expensive generosity I've ever heard of.
DARIO Net loss for the quarter was twenty-three point three billion. That's a non-cash mark on convertible notes and SAFEs.
MARK So the loss is fake and the revenue is real.
DARIO The loss is accounting. The revenue is customers.





























