Anthropic is preparing to file publicly for its mega-IPO as soon as the end of this month, per Bloomberg.
Anthropic expects its IPO to match or beat SpaceX's record $75 billion raise. Q2 revenue was $11.5 billion. The 2025 net loss was nearly $42 billion. Investors are floating a $2 trillion valuation based on projections of $190 to $200 billion in revenue by 2028. Dario Amodei wants super-voting shares with about 2% ownership. Source: Yahoo Finance
The AI winners of 2026 won’t use every app, they’ll build the right stack.
Source: www.aiforleaders.com Adam Danyal
Anthropic just passed OpenAI in quarterly revenue for the first time more than doubling to $11.6B while OpenAI grew 18% to $6.7B.
Anthropic also reached a small operating profit making the gap even more notable as the two leaders scale on very different trajectories. Source: Shay Boloor
Average token costs have collapsed from a high of $2.07/mil tokens on May 28 to $1.02/mil tokens.
Main drivers are price cuts to OpenAI's models and new open-source models from Kimi & DeepSeek (which tend to be several multiples cheaper than closed-source models). Source: Liz Thomas Bloomberg
The Anthropic 20% distressed discount
Source: zerohedge
AI is driving up Treasury Yields (through the crowding out effect)
Source: Barclays, Bloomberg
The AI boom is becoming harder to stop
Alphabet, Amazon, Meta and Microsoft now have $2.4 TRILLION+ in future off-balance-sheet commitments, according to the WSJ. These aren’t hidden debts, but largely long-term commitments for data centers, energy, servers and compute capacity. The key point: a significant part of future AI spending is already locked in. That creates enormous momentum across the AI ecosystem — from Nvidia and Broadcom to memory, data centers, power equipment and utilities. It also accelerates the financialization of AI infrastructure: long-term Big Tech contracts can support debt, private credit and potentially securitization. ✅ Short term: this makes an abrupt AI capex slowdown less likely. ⚠️ Long term: it raises the stakes. If AI revenues fail to justify these massive commitments, overcapacity, falling compute prices and refinancing stress could turn today’s financial accelerator into tomorrow’s vulnerability.
All the AI revenue is fake. Really?
Source: Lance Roberts The Daily Shot
