Anthropic's S-1 Just Dropped!

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) Subscribe to the ad-free feed.