Today, I’m joined by Joey Brookhart, an analyst at the chip and AI research firm SemiAnalysis, to help me dig into the story inside the massive Anthropic IPO filing.&nbsp;
This isn’t just about a single company’s financials, or its lofty ambitions or frankly ludicrous risk factors, which include maybe automating every job or, you know, killing everyone. It’s also the clearest look yet at how the business of frontier AI actually works and who’s really paying for it.&nbsp;
Read the <a href="https://www.theverge.com/e/1021322">full interview transcript on The Verge</a>. 
Links:&nbsp;
<ul>
 <li>Anthropic files for its IPO | <a href="https://www.theverge.com/ai-artificial-intelligence/1019470/anthropic-ipo-resist-investor-pressure-cut-corners-safety">The Verge</a></li>
 <li>Five weird details from Anthropic’s IPO filing | <a href="https://www.theverge.com/ai-artificial-intelligence/1018738/anthropic-ipo-s1-filing-weird-details">The Verge</a></li>
 <li>Anthropic’s elaborate plan to keep Wall Street at bay | <a href="https://www.theverge.com/ai-artificial-intelligence/1019470/anthropic-ipo-resist-investor-pressure-cut-corners-safety">The Verge</a></li>
 <li>Anthropic revenue jumps to $16.8B in quarter before IPO | <a href="https://www.bloomberg.com/news/articles/2026-10-14/anthropic-revenue-jumps-to-16-8-billion-in-quarter-before-ipo">Bloomberg</a></li>
 <li>Anthropic raises concerns | <a href="https://www.bloomberg.com/opinion/newsletters/2026-10-26/anthropic-raises-concerns">Matt Levine</a></li>
 <li>Anthropic reveals skyrocketing growth in IPO filing | <a href="https://www.nytimes.com/2026/10/26/technology/anthropic-ipo-finances.html">NYT</a></li>
 <li>The Anthropic IPO financials sneak peak | <a href="https://newsletter.semianalysis.com/p/anthropic-3q26-profit-over-1b-the">SemiAnalysis</a>&nbsp;</li>
</ul>

<a href="https://www.theverge.com/subscribe">Subscribe to The Verge</a> to access the ad-free version of Decoder!
Credits:
Decoder is a production of The Verge and part of the Vox Media Podcast Network.
Decoder’s producers are Greg Ott, Kate Cox, and Nick Statt. This episode was edited by Ursa Wright. Our editorial director is Kevin McShane.
The Decoder music is by Breakmaster Cylinder. Learn more about your ad choices. Visit <a href="https://podcastchoices.com/adchoices">podcastchoices.com/adchoices</a>

Podurama

Home

Trending

Personal

Your Podcasts

New Episodes

My Files

Favourite Episodes

Tags (Folders)

Recently Played

Bookmarks

Followed Playlists

Inside Anthropic’s trillion-dollar AI gamble

Decoder with Nilay Patel

AI Chapters

AI Insights

Reviews