00:00Interesting that Google, who of course is one of Anthropik's earliest investors, is
00:04now increasingly backstopping the financing that underpins data centres for the start-up.
00:10It sounds very complicated, this financing web. It sounds like they're complicating it
00:13even more. Is it just to try and make money at every stage along the way?
00:17I think that is part of it. We forget. Maybe there is some worries about these circular
00:22arguments in terms of the way these financing and funding rounds go. But actually, Alphabet
00:27has been a really smart investor in terms of the money it's made. So let's think back
00:33to Alphabet being an early investor in Anthropik. They invested $300 million to get 10% stake
00:41in the company at a $3 billion valuation. Now, based on recent reports, that means they've
00:46made more than 300 times their money on that investment. That 10% today, in theory, theoretically,
00:53would be worth nearly $100 billion. It's a huge return. So the backstopping on these
01:00valuations would have already made a significant return on those original investments. So AI
01:06is expensive. You need the backing. Google and Anthropik are basically having a business
01:11relationship as well as a funding relationship. And Google, as the investor, has made considerable
01:17returns already on what they've invested in this platform.
01:20That would be perfectly beautiful.
01:20Great.
01:20Great.
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