Anthropic released an updated AI alignment risk report describing an unreleased, more capable Model 2 and raising new concerns in its Threat Model framework. The report runs 186 pages and updates the likelihood for Threat Model 2 from “very low” in February to “low” today. Anthropic attributes the change to cybersecurity incidents tied to its models and says Model 2 is “heavily used” internally for tasks like software writing and generating training data.
Anthropic will add text watermarking to future Claude outputs to make it possible to assess whether Claude was likely involved, as part of EU AI Act compliance. The change takes effect with the EU requirement dated August 2, 2026. Watermarked text will be indistinguishable to readers, should not affect quality or cost, and will be verified via a later detection API using a cryptographic key rather than user-identifying information.
OpenAI and Anthropic cut prices on new model releases as customers shift to lower-cost Chinese AI rivals. OpenAI slashed prices for GPT-5.6 Luna by 80 percent. More companies will move to cheaper options to control rising AI spending, increasing competitive pressure from Chinese labs like Moonshot and DeepSeek.
Anthropic is approaching its IPO valuation goal of $2 trillion without yet having net income. The article estimates Anthropic would need annual profits of about $59 billion to $79 billion to match common Nasdaq 100 valuation multiples. As a result, the valuation gap highlights a need for substantial future earnings rather than near-term fundamentals.
Anthropic is preparing for an IPO targeted for October at a valuation of $2 trillion or higher while investors scrutinize whether it can justify the price without being profitable yet. The article says a $2 trillion valuation would require roughly $59 billion to $79 billion in annual net income to match typical public-market earnings multiples. As a result, the focus shifts to when Anthropic can reach net profitability (not just operating profit) and how it secures compute costs, with the timing also affecting how OpenAI is valued against a live competitor.
Investors are modelling an Anthropic IPO valuation of $2 trillion or more for an October listing, positioning the Claude maker above SpaceX’s June IPO valuation. The modeled figure is $2T+ and would exceed SpaceX’s $1.77T valuation. The market narrative shifts toward treating Anthropic’s expected IPO as a potential record-setting largest IPO, despite Anthropic’s executives not setting that target themselves.
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