Anthropic is seeking a valuation of $1.4 trillion for its upcoming IPO, with the company looking to raise as much as $64.4bn in what would be one of the largest stock market debuts in history. The company, which makes the Claude AI chatbot, launched its investor roadshow on Tuesday, with reported plans to go public next week. It has also secured $26bn in a separate private placement backed by some of the world's largest tech companies, including Google, Nvidia, Microsoft and AMD. The listing is being closely watched as a major test for how much investors are still willing to bet on AI companies, which have driven huge gains in tech stocks and the broader US market. The $1.4 trillion valuation is lower than earlier estimates, which had suggested Anthropic could be valued between $1.5 trillion and $2 trillion, as concerns grow about the company's enormous infrastructure spending and recent swings in AI stock prices.

Look Up Mashable's Best: E-readers, robovacs, laptops, earbuds, smart home and more Gift Ideas For Everyone On Your List Mashable @Home In My Bag Safety Net Versus Trending Now Say More Creator Playbook Mashable Selects Getting Technical with Mashable All Series Google stock is down, and AI is eating into its ad revenue. Matt Binder joined Mashable's tech vertical in 2018, where he covers social media, tech policy, cybersecurity, online scams, cryptocurrency, AI, creator news, weird tech, and other related tech beats. Google is rolling out more ads in AI Mode. Google's latest earnings call has caused quite a kerfuffle on the stock market. It turns out that Google's AI Mode, the AI summaries that help answer user search queries right on the search page instead of directing them to the most authoritative links, is eating into the company's ad revenue -- an extremely predictable problem. This is an obvious problem for Google Ads, a pay-per-click advertising service that generates billions of dollars in revenue each quarter.

This week on, we also discuss Anthropic's IPO filing and the volunteers gearing up to counter ICE at the midterms. This week on, Brian Barrett, Leah Feiger, and Zoë Schiffer dive into our scoop on how a defense contractor connected Claude Code to a secure Department of Defense system. We also discuss the green, yellow, and red flags we see in Anthropic's IPO filing--and why it's a test not just for the AI industry, but for the entire US economy--and how volunteers nationwide are preparing for ICE agents potentially showing up at polling sites in the midterms. Write to us at [email protected] . You can always listen to this week's podcast through the audio player on this page, but if you want to subscribe for free to get every episode, here's how: If you're on an iPhone or iPad, open the app called Podcasts, or just tap this link . There is a lot going on in the hundreds of pages that the company submitted as part of its S-1 filing, from staggering earnings and losses, to warnings of AI's existential threat. We'll discuss our key takeaways and why this IPO is kind of high stakes, not just for the AI industry, but honestly the entire US economy. Massive groups of volunteers all over the country are already getting ready to protect their communities from the potential that ICE officers show up at the polls. We'll get into how grassroots efforts like these are a reflection of a deeply uncertain election cycle. This has been highly anticipated for a bunch of reasons. Anthropic is expected to raise more money in its IPO than any company in history, and it would be the first major US company focused solely on building AI software to go public. To give you a sense of the scale that we're talking about, the company's valuation went from $183 billion a little over a year ago to $965 billion in its most recent round, and some expect that it could be worth close to $2 trillion once it starts trading.

Image caption, Google CEO Sundar Pichai has backed the company's massive spending on AI. Google parent Alphabet lost just over $500bn (£374bn) in value on Thursday after it rattled Wall Street with its last update of the year on its business operations. Google spooked investors so badly that its stock hit a six-month low, after it revealed its artificial intelligence (AI) summaries on search were affecting ad revenue. Microsoft and Amazon also updated investors this week, and joined Google in plans to keep spending astronomical sums of cash in an ongoing AI race. But investors appeared dismayed at the impacts these plans are having on the ability of each to keep growing their core lines of business.

The AI industry is still defined by a careening intensity that's taking the world's finances along for the ride This was originally published in TechScape, a newsletter about how technology shapes our lives. Anthropic filed for an initial public offering on the US stock market on Monday, ahead of what it slated to be one of the biggest debuts in financial history. The company withheld a valuation from its filing with US financial regulators, but investors and analysts are valuing the AI firm at north of $1.5tn. The numbers are jaw-dropping and speak to the speed of the AI boom. Anthropic was founded in 2021.

Anthropic has publicly filed for a stock market listing, one of the largest debuts in history. The company's float on the US market is likely to be a high-water mark in the multitrillion-dollar AI boom and a test of its financial viability. Analysts and investors have valued the San Francisco-based company, founded in 2021, at more than $1.5tn. The company, which will will list under the symbol ANT, confidentially filed with US financial regulators for an initial public offering in June. "We believe AI is one of the most consequential technologies in human history," the company's investor prospectus reads.

An options trader works on the floor of the New York Stock Exchange on 7 January 2026. An options trader works on the floor of the New York Stock Exchange on 7 January 2026. The latest shudder for stocks in the AI industry pulled markets lower worldwide on Thursday, while oil prices hit their highest levels since May on worries about the war with Iran . The S&P 500 fell 1.2% for its worst day since July, while the Nasdaq composite tumbled 2.6%. The weakness for tech stocks was so overwhelming that it masked strength for the rest of the US market, in which the majority of stocks actually rose.

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Meta's Ad Sales Are Suffering Now That Europeans Can Pick Less Personalization An earnings briefing on Wednesday revealed ad revenue has slowed since the European Union introduced the Less Personalized Ads models at the beginning of this year. Meta's advertising growth in Europe is slowing now that residents have the option for less of their personal data to influence what advertisements they see. Advertising revenue in Europe continued to decelerate in the three months through September, the company said on Wednesday, underperforming its global figures. In the region, advertising revenue grew 18 percent year-on-year, slowing from the previous two quarters and lagging the 33 percent growth seen in the US and Canada. Though Meta did not explicitly blame the introduction of the Less Personalized Ads model on Wednesday, chief financial officer Susan Li had previously warned "we're seeing the impact of less personalized ads offering in Europe now that it's fully rolled out, and that may be an additional headwind," in July's second quarter results follow-up call.

Wall Street has projected Tesla to report $27.9bn in revenues. Wall Street has projected Tesla to report $27.9bn in revenues. Musk says'there's a lot of merit' to potential merger that would require approval of 50% of all Tesla shareholders, but he declined to elaborate Investors were paying close attention to Tesla's third-quarter earnings call on Wednesday afternoon, after chief executive Elon Musk floated the idea of merging the car company with his rocket and AI company, SpaceX. But they didn't glean further information after the company announced there would be no questions on the matter. "With regard to a potential merger with SpaceX, I think I said everything that should be said yesterday," Musk, the CEO of both companies, said on Tesla's earnings call.