Anthropic filed for an IPO — but will public markets fund the AI capex forever?

anthropic confidentially submitted paperwork for an ipo, capitalizing on $47b in annualized revenue and a heavily oversubscribed $65b private raise. co-founder daniela amodei argued that public markets are necessary to sustain the high costs of frontier model training and inference. the filing comes as the company pays xai $1.25b monthly for compute and despite enterprises like uber questioning ai roi. a successful listing would prove that public investors accept the long horizons and massive capex required for generative ai infrastructure.