Anthropic appears to have found a path to profitability: https://www.forbes.com/sites/jonmarkman/2026/08/17/anthropic...

Yep, I agree. The only 'frontier' any of the big labs are racing towards is the frontier of financial ruin.

Anthropic likely would not be saying, in October, that they planned to go public next month, if this were also true of their business.

In the last ~month, OpenAI announced a delay to its IPO and Anthropic put a relatively near-term range on its IPO date. These are very different signals.

IPO = It's Probably Overpriced.

The reason is that companies can choose the best timing to go public - when their financial look the best - and they do. Anthropic trying to go public very soon is a good tell their financial look pretty decent. OpenAI postponing the IPO is a very good tell theirs look bad.