Meta is raising up to $97.5 billion, including $25 billion in common stock and $12.5 billion in preferred securities, as Anthropic prepares an IPO, with its prospectus showing $16.29 billion in revenue for the first half of 2026. The filing shows Anthropic's operating loss narrowed to $693 million, but its compute and infrastructure commitments exceed $600 billion, leaving it dependent on continued access to capital. The article argues Meta's advantage is its existing ad revenue to fund AI, and that its Muse models are closing the gap with Claude on some independent benchmarks, often at lower prices. Meta's third-quarter free cash flow was -$2.12 billion, and its full-year capex forecast was raised to $135 billion to $145 billion.
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AnthropicIPOartificial intelligenceMETAAI investment
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| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.7T |
| Close on 10/27/2026 | 620.12 |
| Change that session | -1.66% |
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