Anthropic’s initial public offering is laying bare the stark extremes of the multitrillion-dollar artificial intelligence boom business model: astonishing growth paired with uncertainty about demand and the spending required to continue developing the technology. The startup, which publicly filed IPO paperwork on Monday, is poised to be the first major U.S. firm focused solely on building AI software to make its market debut. The filing offers proof of the billions of dollars in sales per year that Anthropic’s products generate, but also puts forth hard questions about its extreme losses, profitability, government intervention and the potential for catastrophic harms that are specific to cutting-edge AI developers.
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