Anthropic filed its IPO paperwork on Monday setting the stage for what could become the largest IPO in history. 🇺🇸 The numbers in Anthropic’s S-1 are genuinely staggering, and they tell two stories at once. The revenue trajectory. Anthropic went from about one billion dollars to over sixteen billion in a single year, and some investors are now projecting it to pass one hundred billion within two more. No company, not Google, not Meta, not Amazon has ever scaled revenue that quickly. But the other side of the ledger is just as striking: an $80.7 billion net loss in six months, the underlying reality is that building and running frontier AI models costs an extraordinary amount of money.