Anthropic Can’t Self-Fund Infrastructure Despite a $965 Billion Valuation — So Google Is Backstopping It

A $965 billion valuation does not buy a single watt of electricity or a square foot of data center floor space. Anthropic, currently preparing for an October 2026 IPO, finds itself in the position of many frontier AI labs: it possesses immense market capitalization but lacks the balance sheet depth to self-fund the physical infrastructure […]

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