OpenAI's secondary shares traded at a 10% discount with no takers, while Anthropic's commanded a premium. The gap in investor appetite suggests markets are pricing different bets on AI economics. Watch what the public S-1 reveals about unit costs. https://www.implicator.ai/sebastian-mallaby-still-bets-openai-runs-out-of-money-within-18-months/ #AI #Markets
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