UK edition
Topic
The business of frontier AI, reported from the UK: funding rounds, IPOs, revenue and deals, with the numbers checked against the filings.
Anthropic is reportedly pushing its stock market debut from October to November 2026 to show investors a strong third quarter, while OpenAI's Sam Altman says going public now would be an 'ill-advised moment' given AI safety concerns, a very different reason for the same kind of delay.
Reuters obtained Anthropic's confidential IPO prospectus, the draft it filed with the SEC in June. Revenue jumped about twelvefold to $4.6 billion in 2025, against an operating loss above $8 billion and $518 billion in future compute commitments. It also warns its own AI could pose catastrophic or existential risks.
NVIDIA, which already dominates the chips AI runs on, agreed to buy Hugging Face, the neutral hub where the open-source AI world shares its models, for $12.93 billion. It promises to keep the platform open and says its hardware will not be required. It is a major consolidation of AI infrastructure, not yet closed.
Senator Mark Kelly has introduced the Make AI Work for Americans Act, which would tax AI companies' advertising revenue, usage and excess profits to fund a federal trust for workers displaced by AI. Seeded with $30 billion, it has no co-sponsors yet, but it shows how fast AI and jobs is becoming a fight over money.