News & Updates
The latest news and updates from companies in the WLTH portfolio.
Anthropic IPO launch shifts toward mid-October, sources say
ANTHROPIC is expected to begin marketing its initial public offering in mid-October at the earliest and complete the listing days before the US midterm elections in November, people familiar with the matter said on Friday (Sep 4). The artificial intelligence company had been expected to make its IPO prospectus public as early as next week, two of the people said, a crucial step that would kick off the final stages of the offering. Now that it is not expected until late September, the people added, cautioning that the plans, including the timing, are subject to change. The shift pushes back what some investors have said could be a US$2 trillion listing, one of the largest IPOs ever attempted and a major test of public-market appetite for the rapidly growing AI industry. Companies frequently adjust their IPO schedules as they work through market conditions, regulatory reviews and other preparations, so such changes are not unusual. As part of the IPO process, Anthropic is looking to finalise a US$15 billion revolving credit facility, after which analysts, including those at banks involved in the financing, are expected to meet with the company, one of the people said. Bloomberg earlier reported that Anthropic was in talks to expand the facility to US$15 billion. Companies typically leave a few weeks between analyst meetings and making the IPO prospectus public, although Anthropic is expected to have a tighter window because analysts already know the company well, the person said. Anthropic declined to comment. The offering is expected to be one of the most closely anticipated IPOs ever, as investors look to public markets for exposure to the rapidly growing artificial intelligence industry. It could come alongside potential listings from other AI companies, including OpenAI. Elon Musk's SpaceX went public in June at a record US$1.77 trillion valuation. Morgan Stanley, Goldman Sachs, JPMorgan and Citi are among the banks working with Anthropic on the IPO, according to people familiar with the matter. The banks declined to comment. REUTERS
Anthropic seals US$35 billion cloud-computing deal with Nvidia-backed Lambda: Bloomberg
ANTHROPIC agreed to a US$35 billion computing deal with Lambda, a cloud provider backed by Nvidia, part of an effort to quickly expand its AI capacity, according to a person familiar with the matter. Infrastructure company Hut 8 is developing the Texas data centre involved in the project, said the person, who asked not to be identified because the discussions are private. The Wall Street Journal previously reported on the agreement, saying that Nvidia would hold the lease on the data centre, which is in Nueces County, Texas. The deal is just the latest AI computing agreement tied to Nvidia, the world's most valuable business and the leading provider of AI chips. The company has been using its financial resources to expand access to computing infrastructure, which, in turn, should increase demand for its technology. Anthropic, meanwhile, has emerged as one of the most significant customers for data centre power. The Claude chatbot maker on Aug 26 agreed to spend US$45 billion to rent capacity from Nscale in West Virginia. In recent months, it has also signed cloud deals for US$50 billion with neocloud Fluidstack and US$45 billion with Elon Musk's SpaceX. A representative for Anthropic declined to comment. Nvidia, Lambda and Hut 8 did not immediately respond to requests for comment. Lambda is in talks to raise as much as US$3 billion, Bloomberg reported on Aug 25. The company has discussed a valuation of as much as US$12 billion or more, according to people familiar with the talks. Lambda raised more than US$1.5 billion in a November 2025 funding round. The company also reached an agreement with Microsoft in 2025 to deploy AI infrastructure that would be powered by tens of thousands of Nvidia processors. BLOOMBERG
Anthropic seals US$35 billion deal with Nvidia-backed cloud provider Lambda: Bloomberg
ANTHROPIC agreed to a US$35 billion computing deal with Lambda, a cloud provider backed by Nvidia, part of an effort to quickly expand its AI capacity, according to a person familiar with the matter. Infrastructure company Hut 8 is developing the Texas data centre involved in the project, said the person, who asked not to be identified because the discussions are private. The Wall Street Journal previously reported on the agreement, saying that Nvidia would hold the lease on the data centre, which is in Nueces County, Texas. The deal is just the latest AI computing agreement tied to Nvidia, the world's most valuable business and the leading provider of AI chips. The company has been using its financial resources to expand access to computing infrastructure, which, in turn, should increase demand for its technology. Anthropic, meanwhile, has emerged as one of the most significant customers for data centre power. The Claude chatbot maker on Aug 26 agreed to spend US$45 billion to rent capacity from Nscale in West Virginia. In recent months, it has also signed cloud deals for US$50 billion with neocloud Fluidstack and US$45 billion with Elon Musk's SpaceX. A representative for Anthropic declined to comment. Nvidia, Lambda and Hut 8 did not immediately respond to requests for comment. Lambda is in talks to raise as much as US$3 billion, Bloomberg reported on Aug 25. The company has discussed a valuation of as much as US$12 billion or more, according to people familiar with the talks. Lambda raised more than US$1.5 billion in a November 2025 funding round. The company also reached an agreement with Microsoft in 2025 to deploy AI infrastructure that would be powered by tens of thousands of Nvidia processors. BLOOMBERG
Anthropic weighed US$7 billion MatX purchase in push to reduce Nvidia reliance: sources
[SAN FRANCISCO] Anthropic discussed buying artificial intelligence chip startup MatX for roughly US$7 billion, seeking to accelerate efforts to develop custom hardware for its fast-growing AI business, two people briefed on the matter told Reuters. The merger talks, which a third person said have evolved into a discussion about a partnership, underscore the AI lab's ambition to secure the resources and talent needed to build its own chips. The goal is to help Anthropic accelerate its in-house chip development. Reuters is reporting on the discussions for the first time but could not learn why the talks are no longer active. MatX, founded by former Google tensor processing unit (TPU) engineers, is now seeking to raise new capital at a valuation of about US$4 billion, one of the people said, requesting anonymity to discuss private matters. Anthropic declined to comment on deal talks with MatX. MatX did not respond to a request for comment. Chip plans on road to IPO As Anthropic scales its Claude family of AI models, the company is looking to produce hardware that can fulfill its voracious appetite for data crunching and reduce its reliance on chips produced by Nvidia. Anthropic, which is expected to list in 2026, has hired engineering and executive talent to accelerate the chip design process, which could take years. Anthropic's IPO, expected months after SpaceX went public with a US$1 trillion valuation, will chase a valuation of US$2 trillion, which hinges on a 2028 revenue figure of as much as US$200 billion, Reuters reported earlier in August. Anthropic said it is expanding an in-house silicon team to design custom chips that will allow Claude models to run faster and more efficiently. It also plans to keep a multi-chip approach by working with providers from Nvidia to Google. Designing chips is expensive and time-consuming. It can take a year or more to produce a viable piece of hardware, and design costs for a single generation run in the hundreds of millions of dollars. An acquisition of an AI chip startup such as MatX would give Anthropic in-house design expertise and could help lower costs over the longer term, the people said. MatX has been working on a chip that would be useful for building large AI models in a process called training. Anthropic plans to spend tens of billions of dollars to rent computing power from cloud providers and also plans to buy chips directly. It plans to buy US$36 billion worth of Google's AI chips, and signed a US$45 billion deal to rent AI cloud computing power from Nscale. It agreed to pay SpaceX US$1.25 billion per month through May 2029 for computing capacity across its data centre clusters. D with other AI chip startups The discussions with MatX also suggest Anthropic may be interested in producing a training chip, while other chip startups and rival OpenAI pursue processors better suited to generating responses from chatbots, a process known as inference. Anthropic could elect to produce an inference chip as well, the sources said. In recent weeks, Anthropic held meetings with a range of AI chip startups. It has not yet elected to make an acquisition. The meetings are an attempt by Anthropic's engineers and executives to understand the current range of chip design approaches. On Aug 22, Anthropic hired Google chip veteran Amir Salek as part of the company's push into hardware. In June, the AI lab hired former OpenAI chip engineer Clive Chan who worked on the OpenAI chip unveiled earlier in 2026. The leading AI labs such as Anthropic and OpenAI have become increasingly focused on custom chips, which can be tailored to their models and workloads. Through this, they hope to create significant performance and economic advantages. At a conference on Wednesday (Aug 26), OpenAI boasted that its first custom chip called Jalapeno outperformed a similar processor made by Nvidia. OpenAI executives noted that the chip was more energy efficient in performing inference calculations. Making a custom chip may also help Anthropic hedge against the tight supply of Nvidia's processors, which Nvidia said in a conference call on Wednesday would be in short supply through 2027. Google has developed TPUs, while Amazon has built its Trainium and Inferentia chips. Anthropic was one of the first companies to run its models on hardware from several vendors including Nvidia, Google and Amazon. The company has been seeking more computing capacity to meet surging demand for its models, including through a deal with SpaceX to use its Colossus 1 facility, which houses more than 220,000 Nvidia chips. REUTERS
Anthropic planned, then abandoned US$7 billion purchase of AI chip startup MatX: sources
[SAN FRANCISCO] Anthropic discussed buying artificial intelligence chip startup MatX for roughly US$7 billion, seeking to accelerate efforts to develop custom hardware for its fast-growing AI business, two people briefed on the matter told Reuters. The merger talks, which a third person said have evolved into a discussion about a partnership, underscore the AI lab's ambition to secure the resources and talent needed to build its own chips. The goal is to help Anthropic accelerate its in-house chip development. Reuters is reporting on the discussions for the first time but could not learn why the talks are no longer active. MatX, founded by former Google tensor processing unit (TPU) engineers, is now seeking to raise new capital at a valuation of about US$4 billion, one of the people said, requesting anonymity to discuss private matters. Anthropic declined to comment on deal talks with MatX. MatX did not respond to a request for comment. Chip plans on road to IPO As Anthropic scales its Claude family of AI models, the company is looking to produce hardware that can fulfill its voracious appetite for data crunching and reduce its reliance on chips produced by Nvidia. Anthropic, which is expected to list in 2026, has hired engineering and executive talent to accelerate the chip design process, which could take years. Anthropic's IPO, expected months after SpaceX went public with a US$1 trillion valuation, will chase a valuation of US$2 trillion, which hinges on a 2028 revenue figure of as much as US$200 billion, Reuters reported earlier in August. Anthropic said it is expanding an in-house silicon team to design custom chips that will allow Claude models to run faster and more efficiently. It also plans to keep a multi-chip approach by working with providers from Nvidia to Google. Designing chips is expensive and time-consuming. It can take a year or more to produce a viable piece of hardware, and design costs for a single generation run in the hundreds of millions of dollars. An acquisition of an AI chip startup such as MatX would give Anthropic in-house design expertise and could help lower costs over the longer term, the people said. MatX has been working on a chip that would be useful for building large AI models in a process called training. Anthropic plans to spend tens of billions of dollars to rent computing power from cloud providers and also plans to buy chips directly. It plans to buy US$36 billion worth of Google's AI chips, and signed a US$45 billion deal to rent AI cloud computing power from Nscale. It agreed to pay SpaceX US$1.25 billion per month through May 2029 for computing capacity across its data centre clusters. D with other AI chip startups The discussions with MatX also suggest Anthropic may be interested in producing a training chip, while other chip startups and rival OpenAI pursue processors better suited to generating responses from chatbots, a process known as inference. Anthropic could elect to produce an inference chip as well, the sources said. In recent weeks, Anthropic held meetings with a range of AI chip startups. It has not yet elected to make an acquisition. The meetings are an attempt by Anthropic's engineers and executives to understand the current range of chip design approaches. On Aug 22, Anthropic hired Google chip veteran Amir Salek as part of the company's push into hardware. In June, the AI lab hired former OpenAI chip engineer Clive Chan who worked on the OpenAI chip unveiled earlier in 2026. The leading AI labs such as Anthropic and OpenAI have become increasingly focused on custom chips, which can be tailored to their models and workloads. Through this, they hope to create significant performance and economic advantages. At a conference on Wednesday (Aug 26), OpenAI boasted that its first custom chip called Jalapeno outperformed a similar processor made by Nvidia. OpenAI executives noted that the chip was more energy efficient in performing inference calculations. Making a custom chip may also help Anthropic hedge against the tight supply of Nvidia's processors, which Nvidia said in a conference call on Wednesday would be in short supply through 2027. Google has developed TPUs, while Amazon has built its Trainium and Inferentia chips. Anthropic was one of the first companies to run its models on hardware from several vendors including Nvidia, Google and Amazon. The company has been seeking more computing capacity to meet surging demand for its models, including through a deal with SpaceX to use its Colossus 1 facility, which houses more than 220,000 Nvidia chips. REUTERS