Anthropic's S-1 Just Dropped!
Show notes
Anthropic’s S-1 finally dropped: ticker ANT, $16.3B in first-half revenue, and a gargantuan compute bill. Apple unveiled an OLED iPad mini, Meta moved to raise $95B for AI, Elvis’s rightsholders sued Anthropic, and Block’s Dessa speech model wowed me.
- Anthropic files for an IPO on the Nasdaq under the symbol ANT; the number of Class A shares to be offered and the price range is yet to be determined (Anthropic)
- Anthropic’s S-1 shows revenue up 14-fold to $16.3B in the first half, an $80.7B loss driven by a one-time $72.4B convertible note charge, and a possible $100B+ raise at a $2T valuation (The New York Times)
- Anthropic’s S-1 shows a real GAAP operating profit and 14x revenue growth, but also roughly $780-810B of mostly non-cancelable compute commitments, including Elon Musk as a supplier at $3.1B a month (ZeroHedge)
- Apple unveils a redesigned iPad mini with an 8.5-inch OLED display, A20 Pro, 24% thinner bezels, and an optional nano-texture finish, for $699+ on November 6 (Apple)
- The new iPad mini gets an “Acoustic Display” with woofers and hidden tweeters, a 12MP Center Stage camera on the landscape edge, and a $100 nano-texture glass option on the 256GB and 512GB models (9to5Mac)
- Meta plans to raise $95B to finance its AI infrastructure, including $35B in public equity offerings, backed by cornerstone investors Nvidia, AMD, and Broadcom (Financial Times)
- Elvis Presley’s rightsholders sue Anthropic over 274 songs allegedly used to train its models, seeking $41M+; Anthropic says it disagrees and will defend itself (The New York Times)
- Block unveils Dessa, a “true speech-to-speech” AI model trained on “nothing but human conversation” that it says runs locally on a MacBook Pro M4 Max or newer (The Verge)
- The public internet model is effectively dead due to saturation, algorithmic aggregators, and AI security vulnerabilities, and that may open new possibilities (Stratechery)
- AI-powered hacks are overwhelming incident-response firms in “Black October,” with nation-state and criminal groups using the Chinese open-source tool Artex to speed up attacks on hundreds of companies (The Wall Street Journal)
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