Anthropic filed to go public

The money went public. Anthropic’s confidential S-1 landed at the SEC on June 1, days after closing a $65B Series H at a $965B post-money valuation. Shares and pricing aren’t set yet. The same day, Alphabet’s $80B equity raise arrived with $10 billion from Berkshire Hathaway and $180-190 billion in 2026 capex. Even the cash-rich are tapping public equity to fund compute — Alphabet concedes demand for its AI services is already outrunning supply.

Microsoft, meanwhile, is buying less of that compute from anyone else. Microsoft’s MAI-Code-1-Flash, an in-house coding model, beats Claude Haiku 4.5 on SWE-Bench Pro, 51.2% to 35.2%, while using up to 60% fewer tokens. It rolls into GitHub Copilot and VS Code starting June 2. The Majorana 2 quantum chip claims 1,000x better stability and a scalable machine by 2029. Microsoft is owning its stack from model to silicon.

Washington answered, and the answer was light. Trump’s AI security order, signed June 2, invites developers to share frontier models for up to 30 days before release, voluntarily. It explicitly bars any mandatory licensing or preclearance, and stands up a cyber clearinghouse. Set that against a $965B valuation reaching for an IPO and roughly $700 billion in big-tech capex: the buildout sets the pace, and policy follows at a respectful distance.