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← Latest Musical Chairs With Landlords The $800 billion bill behind Anthropic's IPO. Hi, AI Enthusiasts! Welcome back to our Friday Deep Dive. Anthropic filed its IPO prospectus this week and, for the first time, showed the public how much compute a frontier AI company has promised to buy. Depending on who is counting, the total sits between $518 billion and $807 billion. Eight counterparties are named in the filing. Every one of them has its own creditors, its own side bets, and its own bad news that broke the same week. One company opened its books. The whole block's leverage showed through the walls.
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