All In Podcast Hosts Break Down Anthropic's IPO Filing, With David Sacks Calling It Probably the Biggest Venture Outcome Ever
POD UP! 馃毃 -- Anthropic S-1 Shocker: Greatest Business Ever? -- AI's Biggest Financial Risk -- Google鈥檚 $500B Wipeout -- Midterm Predictions (0:00) Bestie Intros (3:22) Anthropic S-1 Breakdown: Greatest Business Ever? (32:47) AI's Biggest Problem and Anthropic's Doomer Showdown (1:01:57) Google Sheds $500B Market Cap in Worst Day Ever: What Went Wrong? (1:14:17) Final Midterm Predictions and Scenarios
Context
One of the most watched tech podcasts is shaping how investors read Anthropic's numbers ahead of what could be one of the largest stock market debuts ever.
Anthropic filed its registration statement for an initial public offering with the US Securities and Exchange Commission on October 26 and plans to list on Nasdaq under the symbol ANT. The All In Podcast is hosted by investors Chamath Palihapitiya, Jason Calacanis, David Sacks and David Friedberg.
Deep dive
The All In Podcast posted its new episode on Friday, opening with a 29 minute breakdown of Anthropic's IPO filing titled Greatest Business Ever, followed by a segment on AI's biggest problem and what the show called Anthropic's doomer showdown. It also covered Google's roughly 500 billion dollar drop in market value, which the show called its worst day ever, and the US midterm elections.
Anthropic announced on October 26 that it filed its registration statement and intends to list its Class A shares on Nasdaq under the symbol ANT, with Goldman Sachs and Morgan Stanley handling the prospectus. Anthropic said the number of shares and the price range have not been set.
On the episode, the hosts said the filing shows 16.3 billion dollars in revenue in the first half of 2026 and 112 billion dollars in cash, and discussed a target listing date of November 16. These figures are the hosts' reading of the filing, not our own check of it. Sacks said the company is probably going to be the biggest venture outcome of all time, and argued that a widely reported 80 billion dollar loss came from an accounting effect of convertible notes rather than cash spending. Palihapitiya said the risk factors show management is mainly worried about compute.
What to expect next
Watch for Anthropic's price range and share count, which will set the valuation investors are being asked to pay. Analysts will test the hosts' claims about margins and the loss figure against the filing itself. The listing date is still not confirmed by Anthropic. Demand for the shares will be a signal for the wider AI market, including OpenAI's own fundraising.