The Information: Anthropic may have missed its peak IPO moment

The Information reports that Anthropic may have waited too long to go public: third-quarter revenue figures shared with investors suggest growth has slowed from the second quarter. That could cap its IPO valuation and revive questions about how durable its competitive moat really is.

• Q3 revenue figures point to slower growth at Anthropic
• Slowing growth may put a ceiling on its IPO valuation
• Aggressive pricing led Microsoft to cut spending on Anthropic models
• Developers increasingly opt for cheaper models that are good enough