Anthropic, PBC filed a Form S-1 for a proposed IPO of Class A common stock, planning to list on the Nasdaq Global Select Market under the ticker "ANT"; share count and price range are not yet set. Latent Space reports 1400% growth, 48% of revenue via cloud partners, 85% margin, and $417B in future AI spending.
Prospective buyers are discussing $1.2T-$1.3T, down from the $1.4T-$1.5T range pitched days earlier and $2T floated in early October. Three major investors told the WSJ the $1.5T target must come down, one suggesting ~$1T.
METR's 11-week high-access evaluation (Aug 12–Oct 29, 2026) found Anthropic's models improving about twice as fast as a year ago, with AI itself driving much of the acceleration. Anthropic redacted a majority of the evidence METR found most informative, citing risk of accelerating other developers.
M3.1 Flash is a 428B-parameter mixture-of-experts model with ~23B active and a 1M-token context, priced at $0.15 per 1M input tokens. MiniMax claims 70% lower agent costs and leads its own Automation-Bench v1.0.6 at 62.2, but scores 38.1 on Terminal Bench 4.0 versus 51.8 for Opus 5.
Between October 2025 and October 2026, capabilities progress at Anthropic ran about twice as fast as the prior twelve months, per an internal Epoch Capabilities Index variant called AECI. The report's authors attribute most of the sustained acceleration to AI automating AI R&D, and say a majority of their most informative evidence was redacted.
The native multimodal MoE activates 23B parameters per token and handles text, image, and video across a 1M-token context. MiniMax reports 73.7% on DeepSWE v1.1, 61.7 on OSWorld V2, and 29.6 on Agents' Last Exam.