Most here need a finance lesson.

In intrinsic valuation, the value of the operating assets is determined by ebit(1-t) - reinvestment.

Gross profit doesn’t mean a whole lot if a) your operating income is negative b) your reinvestment needs are mega. You have to make some interesting assumptions Re. Anthropic to get a 2T valuation.

I almost have to hold my nose reading finance posts on here.