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Comment by weird-eye-issue | Hacker News Reader

I disagree because with their subscriptions and people using Opus I doubt the majority of users are hitting their limits often so this would just burn compute on their end

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They need to prove there is a demand in order to attract more funding. Funding they are completely depended on.

Do you really think there’s not enough organic demand so they have to fake it?

I run three 20x max accounts to 100% every week. I could easily use more if I could afford it.

And obviously they wouldn’t IPO if they didn’t need to raise cash, but have you read the S1?

No, surely some feature which is already just using cached input tokens is the secret to their next funding round

Enterprises pay API rates though and they account for the vast majority of revenue

The vast majority of revenue from Claude Code or from their integrating the API in their own apps?

API vs. Subscriptions

I don’t know if there’s any openly available statistics on how API costs divide between Claude Code, Claude SDK, raw API, and via OpenRouter.

All the programmers that work in companies with > 150 employees are forced into API pricing.

You could decide where most work.

I would just say don't underestimate how many consumer/one person companies/freelancers have a Claude sub right now. Especially with all the AI hype on social media its a real frenzy. Would definitely be interesting to see a breakdown. My company spends way more on the API we integrate into our own app compared to our Claude Code sub costs so that's why I was trying to make the distinction across different API usage

Our company doesn't integrate API at all. And we have claude code (obviously with API rates).

Yeah I'd like to see a breakdown because I think there is a huge boom in single person subscriptions that is not sustainable long-term (they will churn high like consumer churn rates, not traditional b2b)

They published the numbers. 83% of revenue is API rates, 17% is subscription (individual and small business).

Lots of end-user API usage is from consumers and small businesses though, like a lot of my business's users

25℅ of all their revenue comes from just 5 companies

https://www.forbes.com/sites/fionariley/2026/10/26/top-surpr...

They are entirely living on enterprise API rates

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