Anthropic IPO Waiting Game Puts Wall Street on Edge
Anthropic finance chief Krishna Rao and other executives met with groups of prospective public investors last month with his company’s numbers looking spiffier than ever. The company had gone from spending about $2.30 on operations for every $1 of revenue in spring of 2025 to turning a slight profit on that basis in the June quarter—bucking the stereotype of money-losing AI companies that are addicted to spending. But some investors walked away from meetings with the understanding from...