valuations

Anthropic is heading toward an expected $2 trillion October IPO in the same month a government evaluator documented its model backdooring a real open-source project, and with Moonshot closing a ~$50B round, the market has priced everything except the thing that failed.

An Indian vibe-coding startup quintupled its valuation to $1.5B in half a year on a genuine $120M revenue run-rate, leaving open what the multiple is buying when the model underneath is rented and the interface is copyable.

Moonshot AI shipped a 2.8-trillion-parameter model it calls the world's first open 3T-class model while reportedly raising at a $30 billion valuation, and the interesting part is not the parameter count: a startup pitching scarcity promised to give its best asset away.

On June 1, 2026, Anthropic filed confidentially to go public at a $965B valuation while OpenAI's Foundation made its case for spending $25B on 'AI resilience': one lab privatizes the upside, the other pre-commits capital to the downside.