Editorial companion

What stands out

Anthropic told prospective investors its second-quarter revenue rose at least 14-fold year over year, according to Bloomberg documents, and that kind of leap helps explain the growing chatter about an initial public offering (IPO). On Bloomberg Tech, Rachel Metz and Ed Ludlow frame the figure alongside OpenAI’s growth, turning a raw revenue line into a broader question about who will commercialize large language models profitably. For investors, this is the moment when well-funded research projects either evolve into durable software businesses or remain expensive experiments.