venture capital
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How Anthropic Took the Throne: Inside the Valuation Arc That Made Series A Investors a Thousand Times Richer
Anthropic filed confidentially for an IPO on June 1, 2026, at a $965 billion private mark. The Series A investors who put $124 million in five years ago now hold paper positions worth over 1,000x their original cost basis. An economic analysis of who profits, how the throne changed hands, and what the IPO will… Continue reading
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How Anthropic Passed OpenAI: A $965 Billion Bet, a Personal Feud, and Two Theories of AI
In May 2026, Anthropic disclosed a $65 billion Series H at a $965 billion valuation, surpassing OpenAI to become the highest-valued private AI company in the world. The path from $4 billion to $965 billion in three years runs through a personal feud, a public refusal to hold hands, and a fundamentally different theory of… Continue reading