IT Home On November 1, David Oliver Sacks, chairman of the White House Science and Technology Advisory Board, recently appeared on the All-In podcast to deeply analyze Anthropic’s S-1 registration documents. He said that this artificial intelligence startup is likely to become the greatest company in capitalist history.
Anthropic revealed in the document that the company’s revenue in the first half of 2026 was $16.3 billion (IT Home note: at current exchange rates, this is approximately 108.714 billion RMB), with cash on hand of $112 billion (at current exchange rates, this is approximately 746.991 billion RMB). It is expected that recurring revenue for 2026 will reach $100 billion (at current exchange rates, this is approximately 666.957 billion RMB). By issuing Class F shares, the seven founders will hold 50.1% of the voting rights.
David Sachs said: “I think this is likely to become the most profitable venture investment project ever, especially considering that the company has only been established for six years. It could also be the venture investment support company with the fastest value creation rate in history.”
He continued: “Anthropic has over $100 billion in cash. They hardly burn the funds they raise, and it’s a perfect example of efficient capital use.” “Now, many people who are bearish on Anthropic believe that the company’s future promised capital expenditures are too high to be realized.”
“But this IPO actually provides a guarantee for these commitments, as they now have sufficient funds to support all computing power orders and the expected capital expenditures. In fact, they only need to raise 80 billion, 90 billion, or 100 billion US dollars, right? This is completely different from raising 150 billion, 175 billion, or even 200 billion US dollars, which was what I previously thought they needed.”
“Therefore, their financing needs for the capital market during the IPO process will be lower, which means they will have stronger pricing capabilities and can better control the number of tradable shares. I believe all these factors give us reason to be positive about Anthropic’s IPO.”