Thousands gathered in downtown San Francisco this week for HumanX, one of the year’s largest AI conferences, signaling a strong preference for human interaction over AI agents. The event, held at the Moscone Center, showcased a significant shift in sentiment among venture capitalists and founders, with many now favoring Anthropic as the new darling of Silicon Valley. This contrasts sharply with last year’s inaugural HumanX event in Las Vegas, where OpenAI was perceived as the clear leader.
“In Vegas last year, it felt like OpenAI was the clear winner, and now it seems like Anthropic is miles ahead,” said Roseanne Winsek of Renegade Partners. “The Anthropic product is so good.”
Since last year, Anthropic has made significant advances with the release of Claude Code and Claude 4. These products have created considerable buzz, and both Anthropic and OpenAI are preparing for public offerings. Valued at $380 billion, some investors consider Anthropic a more attractive option compared to OpenAI’s hefty $852 billion valuation, particularly after Anthropic announced its run-rate revenue had surged to over $30 billion, up from $9 billion at the end of 2025.
“They’re crushing it,” remarked Jared Quincy Davis, founder and CEO of Mithril, an AI cloud platform. He noted that Anthropic’s strategic focus on enterprise and coding, along with its decision to avoid certain consumer use cases, has paid off handsomely.
Despite the overwhelmingly positive feedback for Anthropic, OpenAI faced scrutiny. Many attendees expressed bewilderment over OpenAI’s recent acquisition of the internet talk show TBPN and questioned CEO Sam Altman‘s dealings with the Pentagon. While criticism was prevalent in casual conversations, most founders and VCs were hesitant to speak out publicly.
“There are quite a few people who have disagreed with Sam and what he’s been doing,” said Andy Chen, a former partner at Coatue and Kleiner Perkins, who anticipated a talent drain from OpenAI. “And Anthropic has tripled its revenue in the past three months.”
Midway through the conference, Anthropic unveiled its latest model, Mythos, which it claims is too powerful to be released to the public due to cybersecurity risks. “The Mythos model is a huge deal,” said Tomasz Tunguz, founder and general partner of Theory Ventures. “There’s a tremendous amount of excitement.”
This year’s HumanX doubled in size compared to last year, attracting approximately 6,700 attendees who paid up to $4,000 each for the opportunity to network with industry leaders, including billionaire venture capitalist Vinod Khosla and Lovable cofounder Anton Osika.
On the expansive exhibition floor, startups showcased AI-driven security solutions and autonomous workflows while distributing branded merchandise. Attendees also received AI-generated recommendations for networking and sessions, although some found the suggestions lacking, as one participant joked about being advised to meet fellow VC journalists.
As robot humanoids and dogs entertained visitors, a “HumanX Dog Park” featuring real dogs attracted far more attention. Other attractions included a retro lounge complete with a pinball machine and jukebox, along with a wellness area offering massages. These non-AI elements appeared designed to alleviate the worries of attendees concerned about the implications of rapid AI advancements.
“The mood I’m feeling is exuberance and existential terror,” said Stefan Weitz, a former Microsoft executive and co-founder of HumanX. “I can’t reconcile the two.”
The swift change in investor sentiment reflects the fast-paced nature of AI development, leaving many venture capitalists feeling overwhelmed. “Every day you wake up and something has meaningfully changed,” remarked Tunguz. “Everyone is in a rush because everything is changing so fast.”
Despite the current momentum for Anthropic, observers caution against writing OpenAI off. As HumanX prepares to return to Las Vegas next year, the landscape may shift once again. “These things change so fast,” Winsek noted. “OpenAI will probably be back.”
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