JPMorgan Chase

Anthropic launched its Nasdaq IPO roadshow at a JPMorgan event in New York, with CEO Dario Amodei saying the company is "not super fussed" about market timing and that the listing mainly exists to stockpile cash for compute. Anthropic held over $130B in cash at end-September, and the oversubscribed offering plus a private placement could add $100B or more, backing a planned $900B infrastructure buildout that includes SpaceX data center deals worth up to $3.1B a month.

Speaking alongside JPMorgan CEO Jamie Dimon during Anthropic's IPO roadshow livestream, CEO Dario Amodei said the company's compute spending plan reaches $900 billion, yet its actual purchases remain "relatively little" versus rivals. The strategy locks in only a modest, cheaper tranche of capacity upfront to hedge weak demand, then buys extra capacity on the spot market if demand surges, rather than making huge long-term bets.

Anthropic announced a live fireside chat between JPMorgan CEO Jamie Dimon and Anthropic CEO Dario Amodei at 12 PM ET. The conversation pairs a top Wall Street bank chief with a frontier AI lab leader; the agenda is undisclosed but likely covers AI deployment and risk governance in finance.

Anthropic's IPO is roughly six times oversubscribed, with the company and co-founders seeking up to $64.4 billion plus a $26 billion concurrent private placement, for up to $90.4 billion combined at a target fully diluted valuation of about $1.4 trillion. Nvidia plans to subscribe roughly $10 billion in the private placement, and underwriters say existing investors will be prioritized. Filings show a revenue run rate of $81 billion as of October 31, up $10 billion from late September.

JPMorgan projects US humanoid robot output will reach 300,000 to 400,000 units by 2030 and about 1.5 million by 2035, driven by labor shortages and falling costs. The report flags dexterous hands, actuators, robot brains and production capacity as key bottlenecks, noting most US makers target only 10,000 to 30,000 units annually and that component suppliers offer better near-term investment opportunities than OEMs.

After years of encouraging staff to embrace AI, large enterprises including Goldman Sachs, Cisco and JPMorgan are shifting to more disciplined deployment: token budgets, usage tracking and access limits for specific employees or tools. The goal is not cost cutting but tying AI spend to productivity, risk control and data protection.

On top of $6.6 billion in new equity funding, OpenAI has established a $4 billion revolving credit facility with nine banks including JPMorgan Chase, Citi and Goldman Sachs, undrawn at closing. The company says it now has access to over $10 billion in liquidity to fund infrastructure expansion, talent and research.