Get all your news in one place.
100's of premium titles.
One app.
Start reading
Fortune
Fortune
Jim Edwards

Anthropic's $2 trillion math problem: Its underlying business is nowhere near the IPO valuation it wants

Anthropic United States
Photo: Anthropic CEO Dario Amodei and his wife Cami Clark. (Credit: Photo by Ludovic MARIN / AFP)

Good morning. On Fortune’s radar today:

  • Anthropic’s $2 trillion valuation isn’t justified by the numbers .
  • Markets: Flat.
  • Did the Fed’s Warsh give guidance about not giving guidance?
  • AI investment is driving consumer inflation.
  • The U.S. deficit suddenly got worse.
  • A quarter of new startup founders were born poor.
  • Here’s who is paying six figures for the advance feed to Trump’s posts.

➡️ Did someone forward you this email? If you would like to receive this information directly, every morning before the markets open in New York, sign up here.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
In 2016, Yale began following 3,635 people aged 50+; 12 years later, those reading books regularly showed a 23% lower mortality hazard, with readers reaching an 80% survival point 23 months later
Yale researchers tracked 3,635 adults aged 50 and older over a twelve-year study. Their findings showed that regular book readers had a 23 percent lower mortality hazard. Active book readers reached an 80 percent survival milestone 23 full months later than non-readers. Deep cognitive engagement from daily reading strengthens brain…
The Economic Times
The Economic Times
In 1984, Texas A&M researchers developed Rio Red grapefruit using radiation-induced mutations. 42 years later, it accounts for around 75% of all grapefruits produced in Texas, becoming the state’s dominant variety
Texas's popular Rio Red grapefruit originated from radiation-induced mutations in 1984. This variety, developed at Texas A&M University, offered vibrant pink flesh and improved hardiness. Early atomic research explored radiation's potential to alter living organisms and create beneficial mutations.
The Economic Times
The Economic Times
Why we give our cats, dogs and other pets social media accounts
If you use social media, you’ve probably noticed a plethora of animal photos — on Instagram, Facebook, TikTok, YouTube, Pinterest and other platforms. Some people dedicate accounts exclusively to their pets, with some of these animals gaining notoriety and wealth as “pet influencers.”
The Conversation
The Conversation
Fans Vow 'I Will Never Buy Again' as Neutrogena Faces Massive Boycott Over Hayden Panettiere Dispute
Hayden Panettiere fans are calling for a nationwide boycott of Neutrogena after the late actress's claims that the skincare giant dropped her resurfaced online
International Business Times UK
International Business Times UK
South Carolina woman orders jumbo Shrimp Alfredo at Red Lobster. Then she makes a call mid-order and adds one non-negotiable request: ‘Can they put’
She knows the menu
We Got This Covered
We Got This Covered
Liza Minnelli recalls 'self-medicating to foggy perfection' ahead of first rehab stint
Liza Minnelli, 80, has struggled at various points during her life, and has also been to multiple rehab centres.
BANG Premier
BANG Premier
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play