Five independent reports agree: 95% of enterprise AI spend has no nameable ROI, IBM says $6–8T capex has no revenue to match, and a 50–70% correction looms.
Anthropic filed a confidential S-1 at a $965B valuation and $47B revenue run-rate, joining OpenAI and SpaceX in the 2026 frontier AI IPO wave.
Anthropic closes $65B Series H at $965B post-money — most valuable private AI startup ever, with run-rate revenue crossing $47B.
Bloomberg reports Anthropic is in early talks for a $30B+ raise at a $900B valuation — potentially the largest single AI funding round in history if completed.
WSJ-derived snapshot: Anthropic ~$900B valuation / ~$44B ARR vs OpenAI ~$850B / ~$30B ARR — though methodology differences narrow the ARR gap by $8-10B. Both labs in valuation near-parity.
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