News & Updates
The latest news and updates from companies in the WLTH portfolio.
Anthropic official claims there is a 10% chance that AI could kill all humans within a decade
Current and former employees of Anthropic, an American AI company founded by former OpenAI leaders, say they believe AI could potentially kill all humans within the next 10 years. "We really do earnestly believe AI could kill all humans! I personally think it is >10% within the next decade. I believe Anthropic is trying its best, but we do not yet have a plan to solve alignment for superintelligence and are not clearly on track to," Anthropic alignment-science lead Evan Hubinger wrote Tuesday night on X. His comments came after Anthropic AI researcher Jacob Coxon resigned from the company and took to X to detail his departure. "The people building AI earnestly believe that it could kill us all by the end of the decade," Coxon stated. "This is not a marketing stunt. If anything, many executives and senior researchers will couch their phrasing in the press to sound sensible - but I hear the same people express fear privately. No other human activity poses this level of danger." His comments come as AI becomes an increasingly routine part of daily life for millions of Americans, while concerns over its potential risks grow. Industry leaders have warned that increasingly powerful AI systems could eventually become difficult or impossible to control. Around 2 a.m. Wednesday, Anthropic scalable-oversight lead Samuel Marks also responded to Coxon's post, claiming that he was "[Writing this in a personal capacity, not on behalf of my employer (Anthropic)." "AI developers believe their technology could cause human extinction (or similarly bad outcomes). This could happen in the next few years. In general, the more senior the employee, the more concerned they are," Marks wrote. The Independent has contacted Anthropic for comment. OpenAI, a separate but leading AI company, declined to comment on Coxon's post when contacted by The Independent. However, a spokesperson pointed to several updates the company has published in recent weeks outlining its efforts to improve AI safety and alignment. This story is being updated
Interactive Brokers Earns Interest on $182 Billion of Its Clients' Idle Cash. Will Anthropic's IPO Drain It?
Interactive Brokers (NASDAQ:IBKR) ended June with $182.4 billion of uninvested client cash, up 27% year over year. Not only did the pile grow, but it was bigger still two months after the quarter closed, reaching $185.6 billion at the end of August. And until clients put that money to work, the automated global broker collects interest on it. They may soon get a big occasion to put some of it to work. Anthropic's initial public offering (IPO) prospectus could arrive as soon as this week. In late August, The Information reported that the artificial intelligence (AI) company planned to release it just after Labor Day, with a market debut following as soon as the end of this month. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " Investors project the Claude maker's valuation could land at about $2 trillion, CNBC has reported. They also expect the offering itself could top the largest on record -- the $85.7 billion SpaceX (NASDAQ:SPCX) raised in its June debut. Anthropic's timing is a plan, not a scheduled event. There's no public prospectus, no price, and no share count yet. But I think the setup is worth examining, because the broker just lived through a version of it. What does a huge listing do to this business? Image source: The Motley Fool. A cash pile that pays Interactive Brokers earns money on client cash in a straightforward way. It segregates customer cash as regulators require and invests the majority of that segregated cash in short-term U.S. government securities and related instruments. Clients earn interest on qualifying U.S. dollar balances, and the company keeps a spread for itself: half a percentage point below the benchmark federal funds rate. At today's scale, net interest income is the company's biggest revenue line. It rose 23% year over year to $1.06 billion in the second quarter, helped by growing customer credit balances and a 67% jump in customer margin loans. That was more than half of the quarter's $1.9 billion of total net revenues. Notably, the growth came from bigger balances. The company's net interest margin narrowed to 1.93% from 2.07% a year earlier as interest rates declined, yet net interest income climbed anyway. In other words, the cash isn't idle from the broker's perspective. Every uninvested dollar earns the company a little interest, and clients added about $39 billion of those dollars over the past year.
Think SpaceX's $28.5 Trillion Idea Sounded Crazy? Wait Till You Hear What Anthropic Says.
Two months ago, Elon Musk made a bold claim. (I know. Shocking!) Explaining in its initial public offering (IPO) prospectus why Space Exploration Technologies (NASDAQ: SPCX) was justified in asking investors for a valuation more than $1.5 trillion, Musk & Co. asserted that, in the not-too-distant future, its products and services would serve a $28.5 trillion market for space, connectivity, and artificial intelligence (AI) services. And the biggest of these was AI. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " According to Musk, AI is a market opportunity of $26.5 trillion. SpaceX argues, Anthropic echoes Such a gargantuan number obviously stuck with me. And when another AI company -- Anthropic -- announced last week that, in its opinion, the total addressable market (TAM) for AI services could reach $30 trillion, well, that rang a big bell. Anthropic reported $11.6 billion in revenue in the second quarter (Q2) of 2026, more than doubling year over year. According to The Wall Street Journal, the company earned a "small operating profit" as well. But Anthropic sees even bigger things ahead for it as its TAM swells to $30 trillion and beyond. So, $26.5 trillion? $30 trillion? These are big numbers, and they're suspiciously close to each other. But that's not the only thing they have in common. Anthropic says it's targeting a TAM comprising "the full scope of work that could be completed with AI models," according to the Journal. And it can reach this TAM if it can "theoretically capture ... 100% market-share." Emphasis on "theoretically." But here's the problem: Estimating the size of a company's TAM requires "a bit of guesswork," says the Journal. Rarely does the company approaching an IPO tell you exactly what it includes in its TAM. Even more rarely does it tell you when it expects to achieve the TAM it cites. Unlike actual market-share reports, says the Journal, TAM estimates are "especially squishy." Which is another way of saying it's impossible to verify them before the IPO has happened -- by which time it may be too late. Examples from history Need examples? In 2019, ride-share company Uber (NYSE: UBER) told investors that its TAM was $6 trillion. But how much revenue did Uber actually pull in last year? $52 billion. Or about nine-tenths of one percent of what it cited as its TAM.
Anthropic Has Committed More Than $100 Billion to AWS, and Its Prospectus Could Reveal More Details About This Contract
Anthropic, the company behind the Claude artificial intelligence (AI) models, plans to publish its initial public offering (IPO) prospectus after Monday's Labor Day holiday, The Information reported late last month. A listing may follow as soon as late September or in October. Amazon (NASDAQ:AMZN) shareholders have a more specific reason than most to open the document when it lands. On April 20, Anthropic committed to spend "more than $100 billion over the next ten years" with Amazon Web Services (AWS), Amazon's cloud computing segment. That promise is equal to about a fifth of AWS's backlog of contracted work, which reached about $496 billion in June. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " In other words, Amazon has already told investors how much one of its biggest cloud customers intends to spend. What no Amazon filing can show is whether the customer's own finances support it. That's what the prospectus is for. Image source: Getty Images. The contract is already in Amazon's filings April's agreement covers up to 5 gigawatts of capacity on Amazon's own silicon -- Graviton processors and Trainium2 through Trainium4 AI chips, with an option on future generations. Amazon's filings show what a deal that size does to the backlog. AWS's backlog (commitments in customer contracts with original terms longer than one year that haven't yet been recognized as revenue) had grown to about $496 billion by June 30. That was up from about $364 billion in March, and from $195 billion in the middle of 2025 -- growth of 154% year over year, including a $132 billion jump in a single quarter. And the Anthropic deal wasn't alone. The filing also discloses a $100 billion, eight-year expansion of AWS's existing $38 billion commitment from OpenAI, announced a quarter earlier. Not only is AWS's contracted future far bigger than it was a year ago, but more of it also sits years away from becoming revenue. The weighted-average remaining life of the segment's long-term contracts stretched from 4.0 years to 6.4 years over those 12 months. One half of the deal is easy to check Of course, a backlog is signed work, not guaranteed revenue. Amazon says the amount and timing of what it recognizes "will be driven by customer usage and our performance in accordance with contractual obligations."
SpaceX Was 'Nowhere' in AI 6 Months Ago -- Now It's an Anthropic Rival After the $60 Billion Cursor Deal, Says Oppenheimer
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Oppenheimer analyst Timothy Horan says Space Exploration Technologies Corp. has gone from an artificial-intelligence also-ran to a credible Anthropic rival within months, crediting its $60 billion Cursor acquisition and expanding compute infrastructure. Cursor Deal Transforms SpaceX's AI Business "The company's doing an incredible job with AI," Horan told CNBC's Power Lunch hosts Kelly Evans and Brian Sullivan. "Six months ago, their AI business was almost, people thought, dying. The large language models of Grok were nowhere." He called Cursor "an absolute game changer." Cursor officially joined SpaceX on Aug. 14. "SpaceX really is a competitor to Anthropic."@Oppenheimer's Timothy Horan makes the bullish case for $SPCX -- saying the stock could double from here.https://t.co/DpdTOSPnle -- Power Lunch (@PowerLunch) September 2, 2026 Horan said Cursor's agentic coding activity gives SpaceX data on "what works, what doesn't work and all the logic behind that," helping improve Grok and other applications. He said SpaceX is targeting a $100 billion revenue run rate by year-end, with about 70% tied to AI, and could reach $120 billion to $130 billion next year. "I think Grok Bot is about to go viral," Horan said, while people working on Grok 5 believe it will be "transformational." Oppenheimer Raises Target On AI Momentum Oppenheimer reinforced that thesis Wednesday, maintaining its 'Outperform' rating and raising its SpaceX price target to $280 from $250, implying nearly 99% upside from around $141. The firm said SpaceX's vertically integrated AI platform combines proprietary data, capital, Nvidia Corp. GPUs and rapid infrastructure deployment. Oppenheimer raised long-term revenue estimates roughly 10%, said Nvidia's next-generation Rubin chips could pay for themselves within a year, and estimated SpaceX could capture 100% of revenue from software such as Cursor and Grok, versus roughly 50% when it acts as a wholesale AI infrastructure provider. See Also: Avoid the #1 Investing Mistake: How Your 'Safe' Holdings Could Be Costing You Big Time SpaceX already leases substantial compute to Anthropic and Alphabet Inc.'s Google. The Anthropic deal includes $1.25 billion in monthly payments through May 2029, subject to a 90-day termination provision.
Cerebras Has a $25.4 Billion Backlog, and One OpenAI Agreement Is Behind Much of It
By most measures, Cerebras Systems (NASDAQ:CBRS) delivered an outstanding second quarter. The artificial intelligence (AI) computing specialist grew its non-GAAP (adjusted) revenue 103% year over year to $209.9 million. Its inference cloud business nearly quadrupled, and management raised its full-year outlook to a range of $880 million to $890 million in adjusted revenue. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " But the most important number in the mid-August update wasn't on the income statement at all. Cerebras ended June with $25.4 billion in remaining performance obligations, the backlog of contracted work it hasn't yet delivered or recognized as revenue. That's nearly 29 times the revenue management expects for all of 2026, a figure lifted by data center costs passed through to OpenAI. A figure that large deserves scrutiny. The company's own filings say where to look: at a single agreement with OpenAI. Image source: Getty Images. The backlog arrived almost all at once In December 2025, Cerebras signed a master relationship agreement with the ChatGPT maker under which OpenAI committed to purchase 750 megawatts of computing capacity for AI inference -- a deal Cerebras has valued at more than $20 billion. OpenAI also holds an option to buy an additional 1.25 gigawatts of capacity by the end of 2030. Remaining performance obligations were $24.6 billion at the close of 2025, then edged up to $25.0 billion in March and $25.4 billion in June. The balance grew only about 3% over the first half of 2026. Nearly all of it was on the books before 2026 began. And Cerebras says in its latest quarterly filing that a significant amount of the balance is attributable to its obligations under the OpenAI agreement. Cerebras recognized $56.8 million of revenue under the arrangement in the second quarter, or about 32% of the company's $180.1 million in revenue under generally accepted accounting principles (GAAP), which grew 74% year over year. When does the backlog become revenue? The backlog converts slowly, by design. Cerebras expects to recognize only about 22% of the $25.4 billion (about $5.6 billion) over the 24 months ending June 30, 2028. Another 43% should arrive between months 25 and 48, with the rest coming later. Of course, the timing can shift at the customer's request.
AMD Committed Up to $5 Billion to Anthropic, and Anthropic's IPO Prospectus Is Reportedly Days Away
When Advanced Micro Devices (NASDAQ:AMD) announced its Anthropic partnership in late July, two commitments stood out. Anthropic agreed to deploy up to 2 gigawatts of AMD Instinct MI450 series graphics processing units (GPUs), with deployment of the first gigawatt set to begin in the first half of 2027. And AMD committed to invest up to $5 billion in the artificial intelligence (AI) company behind the Claude models. The second commitment is about to get easier to measure. Anthropic plans to publish its initial public offering (IPO) prospectus after the Labor Day holiday on Monday, with a listing as soon as late September or early October, The Information reported late last month. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " What does AMD hold today, then? Not a stake, at least not yet. Image source: AMD. Conditions attached AMD's press release put it carefully: The company "has committed to make a strategic equity investment of up to $5 billion in Anthropic in the future." AMD's early August quarterly filing added structure. It describes investment commitments of up to $5 billion entered after the quarter ended, "subject to certain contingencies," with the money expected to go out through fiscal year 2028. Neither company has said what the contingencies are. And no valuation for the investment has been disclosed. That shape has become standard among Anthropic's backers. Alphabet agreed in April to invest up to $40 billion -- $10 billion immediately, the remaining $30 billion contingent on performance milestones. For scale, AMD held $1.7 billion of investments in private companies at the end of the second quarter. This one commitment could grow to nearly triple that. What would a listing change? Anthropic itself has confirmed very little. The only filing on record is a confidential draft registration statement submitted in June. However, the reported figures are staggering. CNBC has reported that Anthropic is valued at close to $1 trillion in the private markets, and that investors project it could float at about a $2 trillion valuation. The growth underneath, I think, explains the excitement. Anthropic's annualized revenue run rate (a full-year projection of its recent revenue pace) topped $30 billion in April and passed $65 billion by the end of July. The company has reportedly raised at least $130 billion, and its offering is expected to surpass the June IPO of SpaceX, which raised about $86 billion, the largest on record.
Anthropic Is Reportedly Gearing Up for an IPO This Year That Could Be Bigger Than SpaceX. 3 Things Investors Should Know.
Anthropic, the parent company of the large language model (LLM) family known as Claude, is reportedly preparing for an initial public offering that could happen as soon as later this month or in October, according to various media outlets. The company confidentially filed for an IPO back in June. It would mark the second monster artificial intelligence (AI)-related IPO since Space Exploration Technologies went public in June, raising nearly $86 billion at a $1.77 trillion valuation, in the largest IPO ever. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " Given the amount of interest and hype surrounding this company and this topic, Anthropic could surpass SpaceX in total funds raised and valuation. Here are three things investors should know. 1. Anthropic may try to raise as much as $100 billion at a $2 trillion valuation As if SpaceX didn't go big enough, Anthropic will reportedly attempt to top it by raising up to $100 billion at a valuation as high as $2 trillion. This is, of course, no guarantee, as even SpaceX faced some pushback, despite its successful raise. SpaceX's stock has also been up and down since the IPO, as investors worry about the high valuation, the intense capital expenditures required by the business, and the future release of additional shares into the market. Whether Anthropic can reach a $2 trillion valuation will depend in part on the financials reported in its registration statement. The company reportedly doubled revenue in the second quarter to $11.6 billion and reported positive adjusted operating income, though I'm sure investors will be curious to see the adjustments. The Financial Times also reported that investors in Anthropic believe that annualized revenue could reach $120 billion by the end of this year. 2. Anthropic could be targeting a $30 trillion TAM Perhaps one of the most surprising figures in SpaceX's registration statement was its $28.5 trillion total addressable market (TAM), essentially the opportunity at play for the company. The bigger the TAM, the bigger the revenue potential. Citing anonymous sources, The Wall Street Journal recently reported that Anthropic is supposedly eying a $30 trillion TAM. Investors should be skeptical of TAMs, but the sheer size of SpaceX's TAM seemed to excite the market, even if it rested on some pretty spectacular assumptions.
Polymarket Launches Perpetual Oil Futures in 24/7 Trading Push
(Bloomberg) -- Polymarket has launched perpetual futures contracts tied to oil, stepping into a market that rival Kalshi Inc. is also seeking to enter as trading venues compete to offer round-the-clock access to the commodity. Most Read from Bloomberg The company announced the launch Thursday as part of a broader rollout of perpetual futures spanning crypto, stocks and commodities including gold and silver. Among them are two never-expiring contracts linked to the Brent and West Texas Intermediate oil benchmarks, a type of derivative facing scrutiny over its potential impact on price discovery in physical markets. The launch comes a day after it was reported that Kalshi is seeking regulatory approval for its own perpetual futures contract linked to West Texas Intermediate oil. If approved, it would be the first contract of its kind to trade on a regulated US platform. Polymarket's contracts will trade offshore and won't be available to US-based traders, putting the venue in more direct competition for now with exchanges including Hyperliquid and Binance. Perpetual futures are derivatives with no expiration date and built-in leverage, allowing customers to amplify the risk they take with each trade. The contracts surged in popularity during the Iran war as one of the few ways to trade oil while traditional futures markets were closed and have since become a flashpoint in the debate over whether weekend trading can influence prices once traditional markets reopen. There are other key differences between the Polymarket and Kalshi offerings. Unlike Polymarket's nonstop contract, Kalshi's oil-linked contract would trade 24 hours a day, five days a week. The structure was designed to address regulatory concerns raised in a Commodity Futures Trading Commission review of trading outside regular market hours, Bloomberg previously reported. Polymarket first telegraphed plans for the launch in April, though it was unclear at the time whether oil would be among the offerings. The contracts will allow traders to use up to 20 times leverage, according to a social media post by the venue. The ability of retail traders to take on outsized risk has been a key concern surrounding perpetual futures.
Maybe we were wrong about Perplexity
Welcome to AI Decoded, Fast Company's weekly newsletter that breaks down the most important news in the world of AI. I'm Mark Sullivan, a senior writer at Fast Company, covering emerging tech, AI, and tech policy. Most Read from Fast Company Sign up to receive this newsletter every week via email here. And if you have comments on this issue and/or ideas for future ones, drop me a line at [email protected], and follow me on X @thesullivan. Perplexity's valuation is soaring. Its traffic tells a murkier story In a feature about the AI answer engine Perplexity in 2024, I suggested that the startup wasn't likely to last for the long haul against better-financed players like OpenAI and Anthropic, and that it was most likely an acquisition target. But here we are, well into 2026, and Perplexity is still alive and showing potential. Nvidia is reportedly in talks to invest in Perplexity in an equity round that would value the AI startup at more than $30 billion. That would mark a 50% increase from its estimated $20 billion valuation just a year ago. The Information reported that the company's annualized revenue is now more than $750 million, up from under $250 million at the start of 2026. At $750 million in annualized revenue, a $30 billion valuation is roughly 40 times sales. In February, Perplexity launched its Computer product, which deploys AI agents to do work on behalf of users. It also switched to a usage-based pricing plan in which users get a certain amount of credits for agentic work every month. The Financial Times reported that Perplexity's revenue increased 50% in a month after the launch of Computer. By March, Perplexity's annual recurring revenue had risen to $450 million, the report said, with some of that revenue coming from "tens of thousands" of enterprise customers. The picture of how many people are actually going to Perplexity for answers is somewhat muddled. Numbers from Similarweb suggest that traffic to the Perplexity.ai website peaked at 219 million visits per month in October 2025 and has been retreating ever since. App usage tells a different story. Similarweb numbers show that monthly active users of the Perplexity app on iOS and Android grew from 26.2 million in August 2025 to 37.9 million by February 2026, a roughly 45% increase in six months.
Coatue Opened Positions in Intel and Cerebras. Is the AI Chip Trade Broadening Beyond NVIDIA?
Coatue Management's Q2 filing disclosed a new position in Intel and, for the first time, a reportable position in newly public Cerebras. Coatue reported 12,084,027 Intel shares and roughly 7.01 million Cerebras shares at June 30. Intel Corporation (NASDAQ:INTC) offers manufacturing and established distribution, while Cerebras Systems Inc. (NASDAQ:CBRS) offers a radically different wafer-scale architecture. Close-up of Silicon Die are being Extracted from Semiconductor Wafer and Attached to Substrate by Pick and Place Machine. Computer Chip Manufacturing at Fab. Semiconductor Packaging Process. Intel's bull case is strategic relevance. Its CPU franchise, foundry ambitions, advanced packaging, and domestic manufacturing footprint could benefit as governments and customers seek more supply options. The new Coatue position joins a broader increase in professional participation: Insider Monkey counted 138 hedge funds holding INTC at June 30, up from 112 at March 31. Its bear case is capital intensity and competitive execution. Intel must spend heavily while defending share against AMD and proving its foundry can win external customers. Recent equity financing adds dilution, and a turnaround can consume cash for years before margins recover. Coatue's filing shows quarter-end ownership, not when shares were bought or why. Cerebras gives the diversification thesis more direct AI exposure. Its Q2 non-GAAP core revenue reached $209.9 million, up 103% year over year, and cloud-service revenue grew rapidly as customers rented inference rather than purchased hardware. As a new public company, CBRS had 78 hedge funds in Q2. Coatue's disclosed position was worth roughly $1.5 billion, making it economically meaningful. The counterargument is volatility and business mix. Cerebras's total Q2 revenue was about $180.1 million under GAAP presentation, while hardware sales fell 23% to $54.1 million and shares dropped sharply after results. Cloud growth can be attractive but may require the company to fund capacity and accept lower near-term margins. Customer concentration and competition from NVIDIA ecosystems remain central risks. Intel's August 14 short-interest snapshot showed 135.69 million shares sold short, with 1.26 days to cover; estimates put that near 2.7% of shares outstanding. It predates the public analysis of Coatue's filing. The filing supports a broadening thesis, not a verdict. Intel must prove manufacturing economics; Cerebras must prove scalable cloud margins. NVIDIA's dominance weakens only if challengers translate technical alternatives into durable, profitable customer adoption.
Polymarket Vows Insider Trading Crackdown as Traders Bet $12M on CLARITY Act
* Polymarket says it is strengthening its systems for identifying insider trading and other suspicious activity ahead of the US midterm elections. * Nearly $12 million has been traded on whether the CLARITY Act will become law in 2026, although traders currently give it only a 15% chance. * Rival Kalshi has permanently banned former congressman George Santos over trades linked to his own State of the Union attendance. Polymarket has pledged to intensify its crackdown on insider trading and other market misconduct as millions of dollars flow into politically sensitive prediction markets. The company's new investigations chief said it has surveillance systems capable of identifying abnormal trading ahead of the US midterm elections, when lawmakers expect activity on political contracts to surge. The assurances arrive as traders wager nearly $12 million on whether the CLARITY Act will become law before the end of 2026. Polymarket Chief Says Platform Can Detect Suspicious Trades Polymarket is preparing to disclose more information about the systems it uses to protect the integrity of its markets. The company's monitoring operation combines machine learning with blockchain analytics, open-source research and conventional trade surveillance, according to Reuters. Bautista, a former FBI investigator who joined the company in June, said she was confident Polymarket would provide the resources required to police its platform. She added that the company already had systems capable of detecting anomalous activity ahead of the midterms. Polymarket's international platform does not publicly reveal the identities behind individual accounts. However, its blockchain system creates a visible record of wallet transactions that investigators can examine. That information can help the company detect unusual trading patterns or connections between apparently separate accounts. Bautista told Reuters that Polymarket had referred more than 100 matters to law enforcement. Among the examples she cited was an account allegedly used by a US soldier to place trades connected to the capture of Venezuelan leader Nicolás Maduro. Polymarket has faced separate questions over Americans accessing its international service. The CFTC penalized the company in 2022 for offering event contracts without obtaining the required registration. The resulting settlement required Polymarket to prevent US customers from using that platform. It later regained access to the US market by purchasing a federally registered exchange, which operates as the separate Polymarket US business.
Anthropic Nears Finalizing $15 Billion Pre-IPO Credit Facility
(Bloomberg) -- Anthropic PBC is set to finalize expanding its revolving credit facility to $15 billion, according to people familiar with the matter, clearing a hurdle before the artificial intelligence firm's public filing for its highly anticipated IPO. Most Read from Bloomberg Morgan Stanley is leading the process, the people said. Goldman Sachs Group Inc. and JPMorgan Chase & Co. also have prominent roles on the facility, along with Citigroup Inc., they said. The four lenders are also leading the IPO, Bloomberg News has reported. The Claude chatbot maker is seeking to raise as much as SpaceX or more in the initial public offering, people familiar with the preparations have said. Companies typically finalize the revolver before they notify banks of their formal roles in a listing. Barclays Plc and Wells Fargo & Co. are also expected to have key roles on the loan, the people said. Bank of America Corp., Deutsche Bank AG, Royal Bank of Canada, and UBS Group AG are also high in the credit facility's lineup, they said. Generally, in syndicated loans, the higher the commitment of a bank, the higher the fees it gets paid by a borrower. When a large capital markets transaction is expected, a higher ranking in a loan is likely to correspond to a more active role in the upcoming deal. Bank of Montreal, BNP Paribas SA, Credit Agricole SA, Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Toronto-Dominion Bank are also on the so-called revolver, the people said. The credit facility would exceed the company's roughly $10 billion target, Bloomberg News reported in August. Anthropic had asked the most active banks leading the credit line to lend about $1.25 billion each, with the next level of active banks being encouraged to offer around $1 billion, and with the commitments dropping to roughly $750 million and lower for less active roles, Bloomberg reported. Details of the loan could still change, the people said, asking not to be identified as the information isn't public. Representatives for Anthropic, JPMorgan, Barclays, Wells Fargo and UBS declined to comment. The other banks didn't immediately respond to requests for comment.
Crusoe reportedly raises $3B at a $30B valuation
Data center developer Crusoe, which counts Meta, Microsoft, and OpenAI as its customers, has raised a new $3 billion round at a $30 billion valuation, Bloomberg reported. The deal is being co-led by Atreides Management and Valor Equity Partners, and includes participation from Mubadala Capital, the asset management subsidiary of Abu Dhabi's sovereign wealth fund Mubadala. The company recently signed a massive $13 billion, five-year cloud contract to supply quantitative trading firm Jane Street with GPUs and AI infrastructure, Bloomberg reported. The fresh fundraise comes 10 months after Crusoe raised a $1.38 billion round at a $10 billion valuation last October. Launched in 2018 as a crypto mining operation powered by flared natural gas, Crusoe has since pivoted into a major AI infrastructure and cloud provider that is best known for developing hyperscale data center campuses for clients like Oracle and OpenAI. The company recently met with investment bankers, including Goldman Sachs and Morgan Stanley, to discuss a potential near-term IPO, Axios reported last month.
The Anthropic IPO May Be Right Around the Corner. Here's What Investors Need to Know.
This year has been a major one for initial public offerings, even producing the biggest IPO on record: the Space Exploration Technologies operation. Including the exercise of an overallotment option, SpaceX raised more than $85 billion and entered the market with a trillion-dollar valuation. Now, all eyes are focused on the next IPO, one that could be even larger than that of SpaceX. I'm talking about the upcoming Anthropic market debut. The artificial intelligence (AI) lab, maker of the famous AI assistant Claude, confidentially filed a draft registration statement with regulators in June. And news reports suggest an IPO may be right around the corner. Here's what investors need to know. Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue " Image source: Getty Images. Why IPOs spark excitement So, first, a quick look at why the launch of companies involved in AI -- from SpaceX to AI chip designer Cerebras Systems -- has sparked excitement and drawn investors' attention. It's important to note that IPOs generally garner attention as they present new investing opportunities. On top of this, the AI market, heading toward a value of $3 trillion in just a few years, according to analysts, represents a massive growth opportunity. Publicly traded AI leaders such as Nvidia and Amazon have seen revenue skyrocket in recent years, so investors are eager to get in on the next new AI story. Now, let's consider Anthropic and what you as an investor need to know. The company is the maker of the Claude AI assistant, the popular Claude Code coding tool, and other AI-driven products, and these are in high demand. TechCrunch, citing an Anthropic spokesperson, reported that Claude paid subscriptions have more than doubled in 2026. In May, Anthropic raised $65 billion in Series H funding, pushing its valuation to $965 billion. At the time, the company said its revenue run rate had surpassed $47 billion. AI labs such as Anthropic and OpenAI have been key players in the AI story, calling for a ramp-up in AI infrastructure from cloud partners such as Amazon Web Services (AWS). This increase in compute results in higher revenue for them -- more compute allows Anthropic and OpenAI to supercharge the performance of their large language models and serve more customers.
Anthropic Nears Finalizing $15 Billion Pre-IPO Credit Facility
(Bloomberg) -- Anthropic PBC is set to finalize expanding its revolving credit facility to $15 billion, according to people familiar with the matter, clearing a hurdle before the artificial intelligence firm's public filing for its highly anticipated IPO. Most Read from Bloomberg Morgan Stanley is leading the process, the people said. Goldman Sachs Group Inc. and JPMorgan Chase & Co. also have prominent roles on the facility, along with Citigroup Inc., they said. The four lenders are also leading the IPO, Bloomberg News has reported. The Claude chatbot maker is seeking to raise as much as SpaceX or more in the initial public offering, people familiar with the preparations have said. Companies typically finalize the revolver before they notify banks of their formal roles in a listing. Barclays Plc and Wells Fargo & Co. are also expected to have key roles on the loan, the people said. Bank of America Corp., Deutsche Bank AG, Royal Bank of Canada, and UBS Group AG are also high in the credit facility's lineup, they said. Generally, in syndicated loans, the higher the commitment of a bank, the higher the fees it gets paid by a borrower. When a large capital markets transaction is expected, a higher ranking in a loan is likely to correspond to a more active role in the upcoming deal. Bank of Montreal, BNP Paribas SA, Credit Agricole SA, Mizuho Financial Group Inc., Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Toronto-Dominion Bank are also on the so-called revolver, the people said. The credit facility would exceed the company's roughly $10 billion target, Bloomberg News reported in August. Anthropic had asked the most active banks leading the credit line to lend about $1.25 billion each, with the next level of active banks being encouraged to offer around $1 billion, and with the commitments dropping to roughly $750 million and lower for less active roles, Bloomberg reported. Details of the loan could still change, the people said, asking not to be identified as the information isn't public. Representatives for Anthropic, JPMorgan, Barclays, Wells Fargo and UBS declined to comment. The other banks didn't immediately respond to requests for comment.
Cerebras plans 165 MW Finland AI data center with first 50 MW under construction
Cerebras Systems (NASDAQ: CBRS) announced a 165 MW AI data center in Mikkeli, Finland, with Compute Nordic Finland. The initial 50 MW of contracted IT capacity is already under construction. The partners plan to increase capacity from 50 MW to 80 MW before reaching the full 165 MW. Cerebras said multiple service orders cover the capacity, with each carrying a seven-year term. An assessment cited by Cerebras estimated €1.0 billion to €1.7 billion of regional investment at full build-out. The project could support 80 to 250 direct permanent jobs and generate between €0.8 million and €2.5 million in annual property-tax revenue. Stay ahead of AI infrastructure deals. Get Blockspace in your inbox. Seven-year orders support the build-out Compute Nordic Finland CEO Pyry Virrantaus said the phased project is backed by existing demand rather than projected customer interest. "This partnership with Cerebras is not a speculative bet on future demand -- it's a contractually committed, phased build-out that reflects exactly how much AI compute the market needs today and where that need is heading," Virrantaus said in the project announcement. Compute Nordic Finland will oversee development, operations, customer relationships and program governance. Cerebras intends to use the facility for its high-density AI compute platform. The partners have identified permanent positions in site operations, power and cooling engineering, networking, security, and facility management. The employment estimate comes from a Ramboll market study and impact assessment dated September 12, 2025. Closed-loop cooling and heat recovery Closed-loop cooling is part of the Mikkeli facility's design, recirculating water instead of continuously drawing it from the municipal supply. It also incorporates heat-recovery infrastructure intended to make thermal energy from the compute systems available to the surrounding community. "Our architecture is built to get more useful AI output out of every megawatt we deploy," Cerebras CEO and co-founder Andrew Feldman said. "Mikkeli lets us pair that efficiency with a data centre designed for closed-loop cooling and heat reuse from the ground up." Cerebras did not provide a commissioning schedule for each phase or disclose pricing under the service orders. The announcement also did not say when the heat-recovery system would begin supplying the community. Mikkeli anchors Cerebras' European expansion The project accounts for most of the 200 MW of European capacity that Cerebras said in July it expected to reach by the end of 2027. That plan includes sites in France and the Nordics, and OpenAI workloads are expected to use some of the capacity.
Nscale doubles contracted revenue to $103 billion after Anthropic win - report
Investing.com -- UK-based neocloud provider Nscale is informing prospective investors that its total contracted revenue has expanded to approximately $103 billion, bolstered by a landmark $45 billion computing deal with Anthropic, according to investor materials reviewed by The Information. The Nvidia-backed infrastructure firm could launch an initial public offering as soon as this month, utilizing the massive backlog to demonstrate sustained enterprise demand for specialized artificial intelligence compute capacity. Nscale had previously disclosed $51 billion in contracted revenue prior to finalizing the Anthropic agreement and landing additional commitments from other AI-native clients. While the signed lease contracts carry an average duration of 5.7 years, equating to an annualized average of roughly $18 billion, a person familiar with the discussions cautioned that the metrics are illustrative and not intended as formal revenue guidance. Beyond its long-term pipeline, internal documents reveal rapid sequential acceleration in Nscale's underlying business, with second-quarter revenue estimated to have topped $100 million. That figure marks a substantial increase from approximately $37 million recorded in the first quarter, notably without yet reflecting any financial contributions from the newly secured Anthropic contract. The sheer scale of the contract additions underscores how specialized neocloud providers are leveraging intense AI compute demand to carve out market share ahead of major market debuts. Against that backdrop, prospective public investors will likely scrutinize how efficiently Nscale can convert its expanding illustrative backlog into realized, high-margin revenue over time.
Anthropic signs $35 billion Lambda cloud deal: WSJ
The Wall Street Journal reported Monday that Anthropic signed an agreement with Nvidia-backed Lambda valued at $35 billion for cloud computing. The arrangement is intended to bring Nvidia capacity online for Anthropic's Claude models. The project involves Hut 8's (NASDAQ: HUT) Beacon Point data center campus in Nueces County, Texas. Nvidia (NASDAQ: NVDA) would hold the facility lease, while Lambda would provide compute capacity to Anthropic, the Journal reported. The reports did not disclose the agreement's term, GPU count, payment schedule or computing capacity. They also did not specify how the contractual obligations are divided among Anthropic, Lambda, Nvidia and Hut 8. Stay ahead of AI infrastructure deals. Get Blockspace in your inbox. Lambda's financing Lambda closed a $926 million senior secured term loan B on August 27 to fund GPU infrastructure for an investment-grade offtaker's committed deployment. Lambda did not identify that customer in its announcement. The Baa2-rated loan priced at SOFR plus 300 bps and 99.5% of principal, with maturity on December 31, 2030. It fully amortizes against contracted cash flows and is secured by the funded GPU servers, related infrastructure and cash flows from those assets. "Closing this Facility puts capital straight to work, funding infrastructure to which our customer is already committed," Lambda CEO Michel Combes said. Morgan Stanley led the financing, with MUFG serving as joint bookrunner. Hut 8 commercialized Beacon Point's second phase in July through a 15-year, triple-net lease covering 352 MW of IT capacity. The lease carries $9.8 billion of base-term value and a 3% annual base-rent escalator. The second lease doubled the same unnamed tenant's contracted IT capacity at Beacon Point to 704 MW. Hut 8 said both phases carry $19.6 billion of aggregate base-term contract value, while renewal options could lift the campus total to $50.2 billion. Hut 8 financed the first 352 MW phase with $4.25 billion in senior secured notes that are non-recourse, carry a 6.129% coupon and mature in 2042. The campus has 1,000 MW of utility capacity under an AEP Texas interconnection agreement, as detailed in Blockspace's coverage of the project financing and ERCOT review. Stay ahead of AI infrastructure deals. Get Blockspace in your inbox. Hut 8 expects initial Beacon Point energization in the first quarter of 2027 and the first Phase 2 data hall in the second quarter of 2028. Site preparation is underway, and the operator said it has procured long-lead critical equipment.
Nscale doubles contracted revenue to $103 billion after Anthropic win - report
Investing.com -- UK-based neocloud provider Nscale is informing prospective investors that its total contracted revenue has expanded to approximately $103 billion, bolstered by a landmark $45 billion computing deal with Anthropic, according to investor materials reviewed by The Information. The Nvidia-backed infrastructure firm could launch an initial public offering as soon as this month, utilizing the massive backlog to demonstrate sustained enterprise demand for specialized artificial intelligence compute capacity. Nscale had previously disclosed $51 billion in contracted revenue prior to finalizing the Anthropic agreement and landing additional commitments from other AI-native clients. While the signed lease contracts carry an average duration of 5.7 years, equating to an annualized average of roughly $18 billion, a person familiar with the discussions cautioned that the metrics are illustrative and not intended as formal revenue guidance. Beyond its long-term pipeline, internal documents reveal rapid sequential acceleration in Nscale's underlying business, with second-quarter revenue estimated to have topped $100 million. That figure marks a substantial increase from approximately $37 million recorded in the first quarter, notably without yet reflecting any financial contributions from the newly secured Anthropic contract. The sheer scale of the contract additions underscores how specialized neocloud providers are leveraging intense AI compute demand to carve out market share ahead of major market debuts. Against that backdrop, prospective public investors will likely scrutinize how efficiently Nscale can convert its expanding illustrative backlog into realized, high-margin revenue over time.