128: The Unwind

Well, friends, like so many things in our life these days, we have to start with the macro.

All right, all right, there were a couple of, you could call them biggish moments in the last week or so that did spook the AI traders and suggested that the AI trade was slowing down.

And one of them was just the hard numbers from our buddies over

at Anthropic.

Now, some other headlines crossing the wire right now.

This on Anthropic.

The Wall Street Journal has apparently obtained a copy of the company's S-1 filing.

Of course, this is the prospectus that basically means that it's ready for takeoff with regards to its IPO.

And it's all over the place, Jess.

The headline here that Bloomberg is actually highlighting focuses on two things.

One is that Anthropic has booked $80.7 billion in net losses today.

in the first half on accounting charges.

That's a Wall Street Journal headline citing an S-1 filing that it says it's obtained.

The other red headline is that Anthropic could spend $750 billion on obtaining computing capacity.

Once again, this reporting coming from the Wall Street Journal.

But as always, the real devil are in the details here.

We get a much clearer picture here of how much money this company has made on revenue, how much money it might be losing when it comes to profitability, and what investors should expect should this IPO land in the next few weeks.

It's interesting

that we keep having these leaks of this, which is never like a complete picture of the filing.

The other scare this last week, just really kind of as the show wrapped up a day or so after the show wrapped up last week, was CoreWeave.

You've probably heard that name going around a lot recently.

And that ends up kind of being seen as a proxy for some of the AI trade.

Well, quite frankly, because Anthropic and OpenAI are not public companies.

So, well, traders got to trade on the news, don't they?

Of course, then there's the CoreWeave saga, which has sort of been, I don't know, it was a yellow flag even before they went public.