Episode Details

Anthropic just hit a $965B valuation and is now worth more than OpenAI. How did they get here so fast, and what does it mean for OpenAI's IPO?

In this episode, we break down Anthropic's $65B Series H led by Sequoia, Altimeter, and Greenoaks, the Opus 4.8 model launch, and why Andrej Karpathy leaving for Anthropic matters. We also dig into OpenAI's IPO dilemma, their $25B revenue run rate versus Anthropic's $47B, missed user targets, and Sam Altman's surprising reversal on AI-driven job loss.

CHAPTERS

00:00 Anthropic overtakes OpenAI in valuation

01:05 Capital efficiency and total fundraising compared

02:04 Anthropic revenue run rate hits $47B

03:00 Claude Code, Mythos preview, and the Discord hack

05:35 Andrej Karpathy joins Anthropic

06:30 Opus 4.8 features, effort control, and sub-agents

08:20 Benchmarks and third-party accuracy concerns

09:35 Carnegie Mellon sleep study and model performance

10:35 OpenAI's IPO dilemma and CFO tensions

12:30 OpenAI misses user targets and revenue lags

14:33 Sam Altman walks back the jobs apocalypse

IF YOU LIKED THIS, WATCH:

→ Mythos Hacked by a Guess https://youtu.be/t-POODHfeZQ

→ Mythos is Too Powerful to Release: https://youtu.be/ai_oGfsNa2g

→ Pope Leo Comes for AI & Tech Despots: https://youtu.be/8HvB90SK-Fs

SOURCES & FURTHER READING

AI Model Releases and Product Updates

• Anthropic Series H Explained What It Means for the Future of AI Scaling: https://www.anthropic.com/news/series-h 
• Claude Opus 4.8 Capabilities Breakthrough Performance Benchmarks and Use Cases: https://www.anthropic.com/news/claude-opus-4-8 
• Claude Code Dynamic Workflows New Automation Features for Developers: https://claude.com/blog/introducing-dynamic-workflows-in-claude-code 
• New AI Research Paper Insights Into Next Generation Model Architectures: https://arxiv.org/pdf/2605.26099

Funding Growth and AI Market Competition

• OpenAI Funding Rounds Full Breakdown Investors Valuation and Growth Timeline: https://tracxn.com/d/companies/openai/__kElhSG7uVGeFk1i71Co9-nwFtmtyMVT7f-YHMn4TFBg/funding-and-investors#funding-rounds 
• Anthropic Funding History المستثمر Breakdown Valuation Growth and Key Backers: https://tracxn.com/d/companies/anthropic/__SzoxXDMin-NK5tKB7ks8yHr6S9Mz68pjVCzFEcGFZ08/funding-and-investors 
• The Math Behind Anthropic Explosive Revenue Growth and AI Market Share Expansion: https://www.theinformation.com/newsletters/dealmaker/math-behind-anthropics-mad-revenue-growth 
• OpenAI Revenue Miss What It Means for IPO Plans and AI Industry Competition:

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