> As an aside: I’ve been told by somebody that Anthropic has been telling people that they can consider token spend a capital expenditure [...] this is bullshit accounting that verges on fraudulent

I'm guessing the logic behind this is something like: "The tokens coming back are source-code and software is capital".

Yet regardless of whether that flies, there are definitely scenarios where you can not call outsourced LLM activity a capital expenditure, such as the regular running of a customer-service bot.