Anthropic’s Looney Tunes IPO ⇥ reuters.com

Echo Wang, Reuters:

Anthropic is making a massive bet that AI will transform the global economy more profoundly than ​industrialization, electricity and the internet, according to its IPO prospectus seen by Reuters.

But the cost to get there will be staggering. Anthropic reported a net loss of $42 billion in 2025, and plans to spend $518 billion on cloud, computing and infrastructure obligations in coming years, according to the prospectus.

For comparison to another absurd initial public offering, SpaceX said its A.I. business lost $6.3 billion in calendar 2025, and its capital expenditures in the segment totalled nearly $13 billion. From January through June this year, spending in that segment has climbed to $23.5 billion. And Anthropic says it is prepared to spend over half a trillion dollars? I cannot wait to see if it truly believes its total addressable market is, as reported by the Wall Street Journal last month, close to the entire U.S. economy.

Anthropic is not a serious company.