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Because the company is making so little money at the moment, it is absolutely dependent on capital raises to survive. The company, for example, highlights $125.2 billion in upcoming lease payments for Broadcom over the next 5 years, which excludes interest, an obligation alone that is six times the company's revenue, and it's just a fraction of the total upcoming obligations. So, if there's any slowdown in revenue growth or any drying up of capital, Anthropic will very quickly find itself in a liquidity crisis.
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