Anthropic filed its public S-1 on Oct. 26, applying to list its Class A shares on the Nasdaq Global Select Market under the symbol ANT. The price range and share count are blank, and Goldman Sachs, Morgan Stanley, J.P. Morgan and Citigroup are the first underwriters listed. Revenue was $16.3B for the six months ended June 30, up from $1.2B a year earlier, after $4.6B in all of 2025. The operating loss narrowed to $693M from $2.1B. The filing lists compute commitments of at least $114.5B with Google through July 2033 and at least $110.0B with Amazon through April 2036. It also lists at least $44.9B with Microsoft through May 2033 and up to $120.5B with SpaceXAI through 2029 (SEC)
Private Companies
Crusoefundraise
Crusoe announced a $700M financing facility with Neuberger Specialty Finance on Oct. 22 to buy power generation equipment for its AI data centers. The facility funds gas generators that provide behind-the-meter power, meaning electricity produced on site rather than drawn from the grid, and is secured by recently ordered generation equipment. Crusoe said it has more than 6GW of gross AI infrastructure capacity under contract. The release did not disclose the term or pricing (Crusoe)
ChipAgentspartnership
Rambus took a strategic stake in ChipAgents and is adopting its AI chip design platform companywide, the companies said Oct. 22. Rambus will use it for chip and silicon IP design and verification workflows, and the amount invested was not disclosed. The two will also work together on customers’ chip design and IP integration across their preferred design environments. Rambus CEO Luc Seraphin said "we see opportunities to accelerate the pace of chip and IP development." ChipAgents was founded in 2024 and is based in Santa Clara, California (Rambus press release)
CircuitHublaunch
CircuitHub launched The Grid, a Massachusetts factory that builds circuit boards on demand, with levitating movers carrying each board between machines that print solder paste, place parts, reflow, solder and inspect. In the company’s own comparison, five assembled 4-layer boards with 118 parts each arrived in 4 days for $630, against about 9 days and $465, including shipping and US tariffs, from a typical Shenzhen quick-turn shop. CircuitHub said it has shipped more than 2.2 million boards and will 5x capacity this year (CircuitHub)
Public Markets
Credo fell the session after MaxLinear said on its Oct. 22 earnings call that it is targeting 20% to 30% of the 1.6T active electrical cable market within about two years. MaxLinear’s CEO put Credo’s share at "93% or maybe 99%." (Yahoo Finance)
Emerging
Chiplet carbon: A paper from Hannah Watson, Arjun Singh, Jennifer Stephenson, Job Soethoudt, Debjyoti Bhattacharjee and James Myers, Embodied Emissions of 2.5D and 3D Scaling in Chipletized GPUs for Low-Carbon AI, uses an imec modelling platform to estimate the manufacturing emissions of a chiplet-based GPU when its compute units and HBM capacity are doubled. Stacking the chiplets in 3D raises embodied emissions by 89%, against 141% for placing them side by side in 2.5D packaging. The figures are modelled estimates, not measurements of built hardware (arXiv)