This week the bill for AI came into view. Anthropic's listing prospectus seeks a valuation above $2tn and shows revenue up twelvefold to almost $4.6bn, against heavy losses and at least $518bn of planned infrastructure spending, a sign that today's model prices are still subsidised. On the other side of the ledger, Bank of America says its virtual assistant has handled 3.6 billion interactions that would otherwise need 11,000 more staff, and Barclays has set a public target of half its developers on Anthropic's coding assistant by the end of the year.
We also look at Robinhood putting autonomous trading agents in front of 29 million customers, insurers blaming hospitals' AI claims coding for $942m of extra health spending, OpenAI's new marketplace that lets companies spend an existing commitment on partners' software and Anthropic's $100m to train 10,000 engineers at consultancies including Accenture, Deloitte and McKinsey. Plus Nvidia releasing free safety controls for AI agents and Microsoft warning that attackers now exploit a flaw in under a day while most firms take 30 to 60 days to patch.
The thread running through it: the returns are starting to be counted, but so are the costs, and leaders building multi year business cases should assume the price of AI will not stay where it is.
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