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Fortune
Fortune
Jim Edwards

Anthropic’s $2 trillion IPO prospectus has leaked—and it shows growing revenue, steep losses, and recent operating profits

Photo Dario Amodei (Credit: Photo by Benjamin Fanjoy/Getty Images)

Good morning. On Fortune’s radar today:

  • Anthropic’s $2 trillion IPO prospectus leaked .
  • Markets: Oil and bonds are driving the drama.
  • The equity risk premium on stocks over bonds has collapsed .
  • Private credit lenders are girding for trouble.
  • What would happen if they closed the Panama Canal?
  • AI hyperscalers need $300 billion in revenue to cover their costs.
  • Stinking rich: The infamously smelly durian fruit is a $7.4 billion industry .
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