The AI industry's week from hell

Anthropic announced plans Tuesday to raise up to $64.4 billion in one of the largest IPOs ever, targeting a valuation of $1.4 trillion—about $600 billion below earlier investor expectations. Annualized revenue reached $81 billion in October, but long-term commitments to chips and data centers climbed to nearly $901 billion. The reset follows a week of political and financial turmoil for the AI industry.