TMTB EOD Wrap
Good afternoon. QQQs -1.75% as semis -5% took a hammering. Factor whiplash is back on the menu as software/internet finished flat and TMT Mo fell 9%.
Main topic today as we discussed in our morning wrap was around Anthropic’s revenue run rate. We thought our friends at Jefferies did a great job recapping the debate:
Can’t wait until we’re trading Anthropic off the weekly Yipit print because ARR growth decelerated 30bps.
A quick chart storm which we think explains what’s going on pretty well:
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