We Have The Anthropic IPO Numbers

Anthropic's IPO prospectus finally surfaced: a $42B net loss on $4.6B in revenue, a quarter of it from two customers. OpenAI scrapped GPT-6.1 Astra over safety, Oura postponed its IPO, and I wondered whether intelligence is becoming a commodity.

⁠THIS IS THE YOUTUBE VIDEO OF MY RANT⁠ (youtube.com/watch?v=6vFHYJzn4RU)

• IPO prospectus: Anthropic reports a net loss of $42B in 2025, with operating losses of $8B+; revenue grew 12x to ~$4.6B, ~25% of which came from two customers (reuters.com/business/finance/anthropics-ipo-pr…) (Reuters)

• Anthropic formally warns investors its technology may pose "existential risks to humanity," devoting almost a third of its S-1 to risk factors including AI manipulation and blackmail (ft.com/content/c7685a7e-7745-4cbc-8053-4958d0e…) (FT)

• Anthropic's IPO filing creates a "Founder LLC" of its seven co-founders, whose majority vote directs a single Class F share with 50.1% of voting power, while the company stays a PBC (reuters.com/legal/transactional/anthropic-lead…) (Reuters)

• OpenAI scraps plans to publicly launch GPT-6.1 Astra, saying it didn't quite meet its safety bar during internal testing, after targeting an October release (wsj.com/tech/ai/openai-chatgpt-model-release-c…) (WSJ)

• Oura says it is delaying its Nasdaq IPO due to uncertainty in the market, despite "strong demand" and a strengthening of its business since the process started (cnbc.com/2026/09/29/smart-ring-maker-oura-post…) (CNBC)

• Sources: OpenAI's ARR is nearing $70B, growing 70%+ since the beginning of Q3, with B2B revenue up 100%+; it added more consumer revenue in Q3 than all of 2025 (axios.com/2026/09/29/scoop-openais-annual-recu…) (Axios)

• Claude Code vs. OpenAI Codex ARR: Codex never slowed after Claude Code's crossover while Claude Code appears to have plateaued, and Opus mentions on GitHub spiked after Opus 5.5 as GPT-6 mentions dropped (blog.tickertrends.io/p/claude-code-vs-openai-c…) (TickerTrends)

THIS IS THE YOUTUBE VIDEO OF MY RANT (youtube.com/watch?v=6vFHYJzn4RU)